Armstrong Flooring announced Thursday it has agreed to sell its Los Angeles-area plant for about $77 million, giving the struggling firm an injection of cash.
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Armstrong Flooring Signs Definitive Agreement to Sell South Gate, California Property for $76.7 .
Armstrong Flooring, IncFebruary 25, 2021 GMT
Significantly Enhances Financial Flexibility to Fuel Investments in Strategic Growth Initiatives
Announced Closure of South Gate Facility in December 2020 in Furtherance of Tile Manufacturing Footprint Optimization Strategy Liquidity Expected to Increase by Approximately $75 Million Following Completion of the Transaction in First Quarter 2021
LANCASTER, Pa., Feb. 25, 2021 (GLOBE NEWSWIRE) Armstrong Flooring, Inc. (NYSE: AFI) (“Armstrong Flooring” or the “Company”), a leader in the design and manufacture of innovative flooring solutions, today announced it has entered into a definitive agreement to sell its production facility, warehouse and real estate property located in South Gate, California to an affiliate of Overton Moore Prop
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