LANCASTER, Pa.—(BUSINESS WIRE)—Armstrong Flooring, Inc. (NYSE:AFI) (“Armstrong Flooring” or the “Company”), North America’s largest producer of resilient and wood flooring products, June 12, 2017, announced that it has closed on the previously announced definitive asset purchase agreement to acquire the Vinyl Composition Tile (VCT) business of Mannington Mills, a nationally recognized flooring company.
Armstrong Flooring intends to use its existing plant and distribution networks to accommodate the additional VCT volume from the acquisition in order to drive top and bottom line benefits through increased scale and capacity utilization.
“We are pleased to close on this strategic acquisition and strengthen our footprint in the well-structured VCT category,” said Don Maier, Chief Executive Officer. “This acquisition remains on track to drive accretive benefits to earnings in 2018 and marks an exciting step in our multi-pronged approach to achieve our medium-term goals. We look forward to providing customers with an expanded inventory selection backed by our expertise in VCT, as well as exceptional service from our strong distribution network.”
About Armstrong Flooring
Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions that inspire spaces where people live, work, learn, heal and play SM. Headquartered in Lancaster, Pa., Armstrong Flooring is the #1 manufacturer of resilient and wood flooring products across North America. The Company safely and responsibly operates 17 manufacturing facilities in three countries and employs approximately 3,900 individuals, all working together to provide the highest levels of service, quality and innovation to ensure it remains as strong and vital as its 150-year heritage. Learn more at www.armstrongflooring.com.
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