Wall Street Watch Thursday: Armstrong Closes the Door on Cabinets
Filed under: Earnings, Market News
Armstrong World Industries (AWI) would rather dance on the ceiling or bounce on the floor than continue to make cabinets.
Armstrong revealed that it would be selling its cabinetry business after Wednesday’s market close.
The maker of flooring and ceiling products for the residential and commercial markets is selling its cabinets business to American Industrial Partners in a $27 million deal. The subsidiary generated $136 million in sales last year, so it’s safe to say that it was losing money…
Wall Street Watch Thursday: Armstrong Closes the Door on Cabinets originally appeared on DailyFinance.com on 2012-09-27T09:25:00Z.
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