Content about Armstrong World Industries

Lancaster, Pa.-based Armstrong World Industries sold Patriot Flooring Supply to The Belknap White Group, a 35-year-old flooring distributor operating in New England and upstate New York.

The transaction closed on Sept. 1, 2012, the company announced Wednesday. Patriot, a flooring sales and distribution business that employs 65 people in Wilmington, Mass., and Pompton Plains, N.J., serves the New England, metropolitan New York and Northern New Jersey markets. 

Flooring and ceiling products manufacturer Armstrong World Industries announced this morning the completion of a refinancing and a special dividend payment  by WAVE, its 50% joint venture with Worthington Industries.

Under the deal, WAVE executed a $225 million three-year revolving credit agreement and a $50 million ten-year private placement bond. Proceeds of the transaction were used to repay WAVE's previous credit agreement, as well as to pay $50 million special dividends to each of WAVE's parent companies, Armstrong and Worthington.

Lancaster, Pa.-based Armstrong World Industries has acquired Intalite Inc., operating under the name Simplex. The acquisition will strengthen Armstrong's capabilities in the North American specialty ceiling market and supports the company's growth strategy, including the expansion of its global leadership and manufacturing presence in targeted markets.

Terms of the purchase were not disclosed. Simplex will become part of the Armstrong Building Products division.

Armstrong World Industries, a global manufacturer of floors, ceilings and cabinets, reported net sales of $748.6 million for its second fiscal quarter, a 3.3% rise over sales of $724.8 million in the same quarter a year ago.

Net income for the quarter, which ended June 30, was $37.9 million. This compares with $26.8 million in the second quarter of 2010, a 41.4% increase.

Armstrong World Industries, a leading manufacturer of acoustical ceilings, has announced that its ceiling recycling program has now diverted more than 100 million sq. ft. of old ceiling tiles from landfills.

The Lancaster, Pa., company enables building owners and contractors to ship ceilings from renovation projects to the nearest Armstrong ceiling plant. Under the program, the company pays the freight costs for shipping the old ceilings, which it uses as raw materials in the manufacture of new ceilings.

Lancaster, Pa.-based Armstrong World Industries has named Victor "Vic" Grizzle EVP, Armstrong Building Products, starting Jan. 17, 2011.