Armstrong World Industries Announces the Sale of Patriot Flooring Supply, Inc.
Armstrong World Industries (NYSE: AWI) announces the sale of Patriot Flooring Supply, Inc. to The Belknap White Group, a 35-year-old flooring distributor operating in New England and upstate New York. The transaction closed on September 1, 2012. Patriot, a flooring sales and distribution business that employs 65 people in Wilmington, MA and Pompton Plains, NJ, serves the New England, metropolitan New York and Northern New Jersey markets.
Frank Ready, CEO of Armstrong Flooring Products, said, "Armstrong's strategy is to focus on our core businesses – flooring and ceilings. Patriot distributes hardwood and laminate flooring, and we're in the business of making and marketing floors. So this is a strategic decision that makes sense for all three parties – Armstrong, Patriot and The Belknap White Group. With Patriot, Belknap can strengthen the operations of both businesses for the benefit of the customers they serve in the Northeast. And we will continue to drive our business in North America and around the world for the benefit of all of our stakeholders. It's a win win."
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