Armstrong takes Desso unit off auction block
``Based on recent review of the economy, our industry and our businesses, we now believe Desso will be a solid fit in the global Armstrong flooring portfolio,'' Armstrong Floor Products Chief Executive Chan Galbato said in a news release.
Armstrong World Industries, the main operating unit of publicly traded Armstrong Holdings, is operating under U.S. bankruptcy court protection. The parent company is not in bankruptcy.
Desso, with 2000 sales of about 300 million euros, employs about 1,300 people making commercial carpet and artificial sports flooring in The Netherlands, Germany and Belgium. The company is based in the Netherlands.