Manufacturing Industry
Bigger is Better
Flooring, August, 1998 by Valero, Greg
GREG VALERO
Following the completion of its pending acquisition of Triangle Pacific Corp., Armstrong World Industries, Inc. will become the world's largest manufacturer of hard surfaces. The transaction not only puts Armstrong in the wood business, but positions it as the market share leader in two consolidating flooring categories.
'Triangle Pacific is one of the best companies in the building materials industry,' observed Armstrong chairman and CEO George A. Lorch. 'This acquisition will mark a major addition to Armstrong's core flooring business.'
On June 13, Armstrong and Triangle Pacific announced they signed a definitive merger agreement for Armstrong to acquire all outstanding shares of Triangle Pacific for $55.50 per share, or a total of...
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