One becomes two for Armstrong: Flooring company makes its debut

Armstrong Flooring made its debut today. - (Photo / File)

The wait is finally over in Lancaster County.

Armstrong Flooring Inc., a spinoff of Lancaster County-based Armstrong World Industries, made its official 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. Continue reading

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. Continue reading

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. Continue reading

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. Continue reading

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. Continue reading

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. Continue reading

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. Continue reading

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. Continue reading

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. Continue reading

Jason Scott
Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin and Cumberland counties. Have a tip or question for him? Email him at jscott@cpbj.com.

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