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