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E-News is an electronic newsletter distributed by Hardwood Floors every other week. Current and previous issues are archived and can be requested electronically. You also can subscribe to E-News, and submit a news item for publication. Issue Date:11/11/2002
Hardwood Floors E-News Armstrong Files Plan of Reorganization; Delisted from NYSE Following AWI's filing of its reorganization plan with the Bankruptcy Court, the New York Stock Exchange (NYSE) suspended trading and pursued delisting of Armstrong Holdings Inc.'s (AHI) common stock and of AWI's 9.75 percent debentures due April 15, 2008 and 7.45 percent senior quarterly interest bonds due Oct. 15, 2038. AHI expects its common stock will be quoted on the OTC (over-the-counter) Bulletin Board (OTCBB) within the next several days. The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in OTC equity securities. In addition, AWI expects that its 9.75 percent debentures and 7.45 percent senior quarterly interest bonds also will be trading on an alternative market in the near future. On Dec. 6, 2000, AWI filed for voluntary recognition under Chapter 11 of the U.S. Bankruptcy Code as it attempted to resolve litigation stemming from its manufacture of asbestos in the 1960s. Since filing, the company now faces about 600 individual property damage claims alleging more than $852 million in damage related to asbestos-containing flooring. In other company news, AHI has reported third quarter net sales of $846.0 million compared with $804.9 million in the third quarter of 2001, an increase of 5.1 percent. Increases in wood flooring, building products, resilient flooring and cabinets partially were offset by a decline in textiles and sports flooring. By the Numbers Manufacturer News Adam Andrews, the son of Dwight and Keddith Andrews, the building supply manager and receptionist, respectively, at Hassell & Hughes Lumber Co. Inc. (Collinwood, Tenn.), recently was critically injured in a football game. His spinal cord was severely bruised and, at present, he is paralyzed from the neck down. His prognosis has not been fully determined; however, his family will spend several weeks or months in Atlanta for his rehabilitation. A trust account has been set up for Adam at a local bank. Those wishing to contribute should send a check to the Adam Andrews Trust Fund, c/o Wayne County Bank, P.O. Box 248, Collinwood, TN 38450. Send cards to Adam Andrews, c/o Pam Winters, Shepherd Center, 2020 Peachtree Road N.W., Atlanta, GA 30309. Mirage/Boa-Franc Inc. (St. Georges, Quebec) officially has opened its second manufacturing plant. The 60,000-square-foot facility is the initial phase of a multi-phase project that will be completed by 2007. The project will include kiln-drying units, a mill yard, a finishing line, a second manufacturing line for 3/8-inch engineered flooring, and shipping and storage areas, the company says. After the final phase is completed, the 50-acre site will have more than 500,000 square feet under roofing. This first completed phase will allow the company to increase production capacity for its Classic ¾-inch solid flooring by 50 percent. Jolyka Hardwood Flooring (Cochabamba, Bolivia) is offering a study trip to Bolivia, which includes a stop to the Amazon to help participants learn more about sustainable forest management and FSC certification and to get a firsthand look at exotic hardwood flooring production. The cost is $2,540 per person with double occupancy. For more information, contact Jolyka at jolyka@supernet.com.bo or visit www.jolyka.com. Harris-Tarkett's (Johnson City, Tenn.) unfinished white oak Grand Vistas flooring was distressed on-site and used throughout the renovated New England barn loft that serves as home base for the "Ask This Old House" television show.Grand Vistas was selected for its wide width and long planks and its engineered construction, according to Bruce Irving, senior producer of "Ask This Old House." Karelia Ltd. (W. Vancouver, B.C.), which is owned by Karelia Corp., has launched its North American sales and marketing operations, headed by David Nemes. Karelia is an ISO 9001- and ISO 4001-rated manufacturer of prefinished engineered flooring. The product selection includes more than 12 species in four to five grades. Karelia manufactures engineered hardwood flooring in 3-strip, 2-strip and full-plank variations, as well as a heavier and sturdier type for sports facilities, including the newly launched designer product Saima, and the Karelia Profilock Glueless Engineered Floating Flooring System. To date, Karelia products are distributed by the Timber Realization Company; NRF Distributors, Gold Coast Flooring Supply, Intermountain Wood Products, Crescent Hardwood Floors and AAmerican. Additional distributors are pending and distributor inquiries are welcome. Nemes can be reached by phone at 604/922-5481 or by fax at 604/922-4271. Ua Wood Floors and Woodemark Corp. (Taichung, Taiwan) have announced their official entry into the North American flooring market will be at Surfaces 2003. Dri-Eaz (Burlington, Wash.) will open a new Southeast operational center in Nashville in January 2003. The new location will be multi-functional and will include a product warehouse, sales office, product service center and an education campus. Dri-Eaz plans to start shipping product from the new location in early January and will hold its first Applied Structural Drying course there later that same month. Distributor News Siljan Wood Products (Mora, Sweden) and its U.S. agent Wasa Hardwood Co. now are selling Siljan solid Nordic red heart pine and engineered plank flooring through U.S. distributors. In addition to the standard line, Wasa Hardwood Co. also is promoting the Siljan Designer Line, a hand-scraped and prefinished line in various species. New distribution arrangements have been made with Virginia Hardwood Company, Ottley Floor Company, Hardwood Flooring Distributors and Goodfellow Distribution Inc. Forbo Wood Flooring (Tibro, Sweden) and its U.S. agent Wasa Hardwood Co. have announced new distribution agreements with Virginia Hardwood Company for Southern California, Arizona and Nevada, and with Ottley Floor Company for Utah, Idaho and Wyoming. Wood Floors Unlimited Inc. (Nashotah, Wis.) recently hosted its annual customer-appreciation hog roast and catered dinner. The evening also included a finish application demonstration presented by Paul Ruiz of Glitsa American. More than 60 customers and guests attended. Horizon Forest Products (Raleigh, N.C.) recently held its fall 2003 open house at its Carolina locations. More than 300 customers attended the three-day event that started in Charleston, S.C., then moved to Wilmington, N.C., and ended in Raleigh. Horizon customers were able to try new products including finishes, machines and new wood products. Each night ended with a raffle for merchandise and cash. Goodfellow Inc. (Delson, Quebec) recently announced annual and fourth quarter results for the 2002 fiscal year, reporting a net profit for the year of $7.4 million on sales of $505 million compared with net profit of $4.6 million on sales of $453 million last year. Net profit for the fourth quarter was $1.8 million on sales of $150 million compared with a profit of $1.8 million on sales of $127 million a year earlier. The board of directors of Goodfellow has declared a dividend of $0.21 share payable Nov. 28, 2002, to all shareholders of record Nov. 14, 2002. In Memoriam People News On the Web Job Watch Brigitte Bernard now is searching for a new and challenging position with a progressive flooring company. She has five years of experience in the flooring industry, specializing in accessories and sundries. Bernard is willing to travel part-time and excels in communication and as a trade show representative. As a U.S. citizen, Bernard can work within the United States and Canada. Call her at 418/561-2434 or e-mail bbernard@videotron.ca. Mark Your Calendar Correction/Addition NWFA Member Services |
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