On December 11, Armstrong World Industries said that it will exit its European flooring business and cease further funding of its DLW subsidiary. Armstrong CEO Matthew J. Espe said that this decision was because of the years of disappointing results, multiple restructuring initiatives, and significant financial investments. Espe also said that this decision does not reflect on the dedication, effort, and commitment of the DLW employees.
Armstrong World Industries expects all operations at the two DLW manufacturing plants in Germany, as well as at the DLW administrative offices across Europe, to continue in the normal course for the near term. Armstrong will classify the results of the European flooring business as discontinued operations starting in the fourth quarter.
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