LANCASTER, Pa., Oct. 10, 2013 -- Armstrong World Industries has selected its Lancaster, Pa., facility for a $41 million investment in the manufacture of luxury vinyl tile (LVT) announced in July. This decision reflects the cooperation and support of the Commonwealth of Pennsylvania and the Lancaster plant employees. This marks the company's second investment in the Lancaster operation since 2008, when it added
fiberglass-backed sheet vinyl manufacturing to that plant's production portfolio, and demonstrates its confidence the plant will continue to be competitive on cost and quality.
Armstrong Flooring CEO Frank Ready said, "We thank the commonwealth and our employees for their support of this investment. By bringing this manufacturing to the U.S., we leverage our manufacturing expertise and create a strong cost, quality and service position for a very exciting product category."
The LVT market is experiencing double-digit growth in North America, largely because of product performance, appearance and ease-of-installation. By on-shoring LVT manufacturing from China, Armstrong expects to realize a more
competitive cost structure with shorter lead times and improved customer service.
Construction is scheduled to start the first quarter of 2014, with projected completion in early 2015. The company expects to add 57 employees to the plant, starting in early 2015, as a result of this investment.
"We have a workforce in Pennsylvania that is committed to excellence and hard work," said Pennsylvania Governor Tom Corbett. "The addition of 57 new jobs at this site in Lancaster County continues the progress towards our goal of making Pennsylvania a national model for job creation and innovation."
Armstrong World Industries, Inc. is a global leader in the design and manufacture of floors and ceilings. In 2012, Armstrong's consolidated net sales from continuing operations totaled approximately $2.6 billion. Based in Lancaster, Pa., Armstrong operates 34 plants in eight countries and has approximately 8,800 employees worldwide. For more information, visit http://www.armstrong.com/.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their nature, address matters that are
uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future. As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated or implied is included in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our reports on Forms 10-K and 10-Q filed with the SEC. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update any forward-looking statements beyond what is required under applicable securities law.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Armstrong World Industries, Inc. via Thomson Reuters ONE
News Provided by Acquire Media