Armstrong World Industries Closes Sale of Cabinets Business
Armstrong World Industries, Inc. (NYSE: AWI) has closed the previously announced sale of its cabinets business to American Industrial Partners (AIP) effective, October 31, 2012. The cabinets business had sales of $136 million in 2011 and has approximately 750 employees.
“Exiting our cabinets business supports our strategy to focus on our core businesses – flooring and ceilings – around the world. This was the right decision for us.” said Armstrong CEO Matt Espe. “We thank the employees for their commitment over the years, and we wish them and the new owners great success as they work to build on a strong foundation of quality and service.”
Armstrong World Industries is no longer conducting business under the name Armstrong Cabinets Products. AIP will operate the cabinets business under the name ACProducts, Inc. ACProducts was granted a limited license to use certain Armstrong trademarks and operate under the Armstrong Cabinet Products trade name for two years. ACProducts will be honoring all warranty claims.