Rhinofloor flooring brand sold to Tarkett Group
28th October 2010
According to reports from Carpet and Flooring Review, the RhinoFloor designs, related, equipment, inventory and merchandising accessories have been snapped up by the France-based company.
Commenting on the news, Frank J Ready, executive vice-president of Armstrong World Industries said the acquisition is a good outcome for everyone involved.
He added: "It supports our actions to exit the residential flooring business in Europe and concentrate on developing our strong position in the commercial flooring market."
Furthermore, he noted the move does not affect the firm's commercial flooring business in Europe, before adding the transition will be as painless as possible for its customers.
Armstrong World Industries is a US-based company that operates 35 plants across nine countries around the world, employing around 10,200 globally.
It achieved consolidated net sales of around $2.8 billion (£1.8 billion) in 2009.
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