Article Number : 1637 |
|
Article Detail |
|
 | |
| Date | 1/8/2007 8:09:01 AM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=1637 |
| Abstract | Armstrong on March 15 made strides to increase its leadership position in the hardwood flooring segment with the acquisitions of Capella Wood Floors and HomerWood for cash along with the announcement of a manufacturing joint venture in China... |
| Article | Armstrong on March 15 made strides to increase its leadership position in the hardwood flooring segment with the acquisitions of Capella Wood Floors and HomerWood for cash along with the announcement of a manufacturing joint venture in China. Frank Ready, president of Armstrong Flooring Products Americas, believes these transactions display the company’s dedication to supremacy in the hard surface flooring industry. Each transaction fills a particular need. Take Capella, for instance. The acquisition “provides us immediate capacity to support the growth demands of the engineered market and adds to our portfolio of brands,” he said. Armstrong is particularly interested in Capella’s 3/4-inch, 7-ply, engineered product. “That’s its point of differentiation in the marketplace as well as a product we previously did not offer. ” The HomerWood purchase aligns with Armstrong’s strategy to compete across the full spectrum of products—good, better, best and premium. “HomerWood gives us a running start in the premium segment of the category, where we were not participating to the degree we thought we could,” Ready said. As for the 50/50 Chinese joint venture, a factory currently under construction, slated to be completed later this year, is also designed to provide Armstrong with additional capacity to support the growing demand in the engineered segment. |