BASF Profits Down 20%
Frankfurt, Germany, Apr. 30—BASF’s profit fell 20% in the first quarter, largely due to an increased tax bill. Net profit fell to 442 million euros ($486 million) in the first quarter from 552 million a year earlier.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
New Home Sales Up
Washington, DC, Apr. 28--Sales of new homes rose 7.3% in March, the biggest gain in seven months, as continued low mortgage rates and better weather helped offset two consecutive months of falling sales, according to the Commerce Department.
Tandus Sales Up
Dalton, GA, Apr. 28--Tandus Group, Inc., which includes C&A Floorcoverings, Monterey Carpets and Crossley Carpet Mills, had adjusted EBITDA of $8.9 million in its fourth quarter ended January 25, compared to $10.3 million for the same period a year ago.
Japanese Firm To Make Ingeo Products
Tokyo, Japan, Apr. 25--Toray Industries Inc., a leading synthetic fiber maker, and Cargill Dow LLC have made an agreement for Toray to manufacture and sell fiber products developed by Cargill Dow.
Bayer Debuts New Stain Block
Pittsburgh, PA, Apr. 28--Bayer Chemicals has developed BayProtect SSB, a new patent pending stain repellent specifically formulated for commercial and residential carpets and rugs.
Pillowtex Gets Waiver From Lenders
New York, NY, March 31 -- Home textile maker Pillowtex Corp. on Friday said its term loan lenders have waived some requirements for the current first quarter.
Congoleum Bondholders Approve Indenture Amendments
Mercerville, NJ, March 30 -- Congoleum Corporation announced that Congoleum and the trustee for Congoleum's 8-5/8% senior notes due 2008 have adopted certain amendments to the indenture governing the notes.
Consumer Sentiment Drops For 3rd Straight Month
New York, Mar.28-- The University of Michigan's final March index of consumer sentiment fell for a third straight month to 77.6, its lowest since September 1993, from 79.9 in February.
EPA Studies Possible Teflon Risk
Washington, DC, Apr. 15--The Environmental Protection Agency has launched an investigation to decide if an unregulated chemical used in furniture, carpet and Teflon is a health risk to the public.
Manufacturing Spending Falls
New York, NY, Apr. 2--Manufacturing activity shrank in March for the first time in five months, suggesting that worries about a war in Iraq were holding the economy back.