Companies in the timber industry / Daily News / Global Trends / Wood flooring / Wood Products / Wood-based panels / Global / North America
January 7, 2019
Armstrong sold its Wood Flooring segment
Armstrong Flooring announced that it has completed the previously disclosed sale of its Wood Flooring segment to an affiliate of American Industrial Partners. Proceeds from the sale were approximately $90 million, net of closing costs, transaction fees and taxes. The transaction is subject to a customary post-closing working capital adjustment process, which is expected to be completed in the first quarter of 2019. According to Armstrong Flooring, the completion of the sale permits to intensify its focus on the fastest-growing parts of the flooring market, including Luxury Vinyl Tile and rigid core, as well ...
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