The wait is finally over in Lancaster County.
Armstrong Flooring Inc., a spinoff of Lancaster County-based Armstrong World Industries, made itsofficial debut today.
News of the planned split of the company’s flooring business was first announced in early 2015.
Leaders of the Manor Township-based manufacturer have said the division will allow each company to sharpen its focus without having to compete against the other for corporate resources and attention. Industry officials expect the move will help Armstrong be more innovative and improve market share.
It’s a move that has arguably been in the works for about a decade following the company’s emergence from bankruptcy in 2006. The company sold off its sports and textile flooring subsidiaries in Europe in 2007, sold its cabinet business in 2012 and exited its European flooring business in late 2014.
Armstrong Flooring, which will trade on the New York Stock Exchange under the ticker symbol AFI, is expected to begin regular trading on Monday. That company has about 3,700 employees worldwide and 17 manufacturing facilities in three countries.
AFI’s corporate headquarters is located at the current AWI headquarters in Lancaster County.
Check back for updates.
Armstrong CEO Matthew Espe stepping down April 1
March 17, 2016 — When Armstrong World Industries announced last February that it would be spinning off its flooring business into a separate public company, CEO Matthew Espe’s future was undecided.
Armstrong World expects April 1 separation of flooring business
Feb. 22, 2016 — The planned separation of Armstrong World Industries Inc.’s flooring and ceiling businesses, a move that has already cost the company $34.3 million, is expected to be done by April 1, company officials said.
Armstrong cites exchange rates, spin-off costs for earnings drop
Oct. 29, 2015 — Armstrong World Industries Inc. reported a 35.1 percent decline in net income during the third quarter, with earnings per share coming in 20 cents below analysts’ expectations.
Armstrong World Industries Inc. officially files for separation
Oct. 8, 2015 — Armstrong World Industries Inc. of Manor Township has registered its official desire to spin-off a new public company, Armstrong Flooring Inc.
Armstrong split designed to enhance focus
Oct. 2, 2015 — For decades, flooring products and ceiling products rose and fell together inside Armstrong World Industries Inc.
Armstrong names executives for flooring spin-off, reports Q2 earnings
July 30, 2015 — Armstrong World Industries Inc. unveiled more of the executives expected to lead its flooring operations after it is spun off into a new company.
Armstrong World asbestos trust sells $86M in stock
May 29, 2015 — The Armstrong World Industries Inc. Asbestos Personal Injury Settlement Trust sold off more than $86 million in Armstrong Wold Industries Inc. stock, according to documents filed with the Securities and Exchange Commission.
Armstrong World Industries posts 1Q loss
April 30, 2015 — Armstrong World Industries Inc. reported a 79 percent decline in net income during the first quarter.
Armstrong World Industries spinning off its flooring business, beats Q4 adjusted earnings
Feb. 23, 2015 — Manor Township-based Armstrong World Industries Inc. announced today it is spinning off its flooring business into a separate public company as it also reported mixed earnings for the fourth quarter.
Armstrong World Industries Inc. to exit the European flooring business
Dec. 11, 2014 — After years of steady losses, Armstrong World Industries CEO Matthew J. Espe said the Manor Township-based company is exiting its European flooring business.
Armstrong lowers annual outlook, citing price and capacity challenges, competition
Oct. 14, 2014 — Ahead of its third-quarter earnings release on Oct. 27, Manor Township-based Armstrong World Industries Inc. on Monday lowered sales expectations for 2014.
Armstrong World Industries kicks off $41M Lancaster expansion project
April 11, 2014 — Armstrong World Industries kicked off construction Friday of its new $41 million Lancaster facility, where it is expanding its manufacturing capability to include luxury vinyl tile.
No ownership change at Armstrong — for now
March 5, 2014 — Armstrong World Industries Inc. said a secondary public offering of 3.9 million common shares won’t require an ownership change in its tax status, but that expensive ownership change could be coming.
Armstrong World shareholders offer stock valued at $306M
Nov. 7, 2013 — The secondary public offering of 6 million common shares of Armstrong World Industries Inc. will start at $51 a share, the company announced today.
Armstrong World Industries announces executive changes
Nov. 5, 2013 — Lancaster County-based Armstrong World Industries Inc. today said it is making several changes to its executive structure prompted by the retirement this month of Armstrong Flooring Products CEO Frank J. Ready.
Armstrong World Q3 earnings down 20 percent
Oct. 28, 2013 — Lancaster County-based Armstrong World Industries Inc. today reported that its third-quarter earnings were $50.4 million, a 20 percent drop from the year-ago quarter, as the company readies to bring some manufacturing back to the U.S.
Armstrong World Industries picks Lancaster for its new $41M tile factory
Oct. 10. 2013 — Armstrong World Industries Inc. today said they have chosen Lancaster for a new $41 million luxury flooring tile production line that the company is reshoring from China
The post One becomes two for Armstrong: Flooring company makes its debut appeared first on Ask Ugnen - Business Consulting.
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