Inflation Less Than Expected
Washington, DC, Jan. 16--Consumer inflation rose only 0.1% in December as the lackluster economy had the effect of holding prices in line, creating a healthier climate for shoppers.
Today's Flooring News
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Home Depot To Increase Capital Spending
Atlanta, GA, Jan. 17--Home Depot will increase capital spending 21% to $4 billion in fiscal 2003 to enhance the customer's shopping experience and reinvigorate sales performance.
Nylon Board Manufacturing Is Latest Solutia Partne
St. Louis, MO, Jan. 16--In an effort to bring new technology, products, and programs to the contract carpet market, Solutia Inc. is expanding its Partners for Renewal program to formally recognize and work with companies, like Nylon Board Manufacturing of
Columbia and Halex Sign Agreement
Portland, OR, Jan. 16--Columbia Forest Products has reached an exclusive agreement with Halex Corporation to head up North American sales of Columbia’s Multiply hardwood plywood flooring underlayment to the wholesale flooring distribution segment.
Kmart To Close More Stores
Troy, MI, Jan. 15-Kmart plans to close 326 stores and cut 37,000 jobs as part of a plan to pull itself out of bankruptcy by the end of April. If the bankruptcy court approves the store closings, Kmart will have about 1,500 stores, a third less than when i
DuPont Revises Fourth Quarter Outlook
Wilmington, DE, Jan. 15--DuPont expects reported earnings for the fourth quarter 2002 to be between $.31 and $.33 per share, slightly below the company's initial outlook. The net impact of special items for the quarter is expected to be immaterial.
Wholesale Prices Flat
Washington, DC, Jan. 14--Wholesale prices were flat in December as falling prices for cars, computers and telephone equipment offset higher prices for gasoline and other energy products.
Congoleum To File Chapter 11
Mercerville, NJ, Jan. 13--Congoleum Corporation plans to file a prepackaged plan of reorganization under Chapter 11 of the United States Bankruptcy Code. The move is part of a reorganization strategy to free itself from mounting asbestos claims.
Honeywell To Buy BASF’s Fibers Business
Morris Township, NJ, Jan. 14--Honeywell has agreed to purchase BASF’s $350 million nylon fiber business as part of a deal in which BASF will acquire Honeywell’s engineering plastics business.
New President For Pergo, Inc.
Trelleborg, Sweden, Jan. 14--Anthony Sturrus has been named president of Pergo, Inc. as well as senior vice president of the North American region of Pergo. He replaces Lars von Kantzow who resigned in October.