Armstrong Flooring, Inc. becomes independent, publicly traded company
April 5, 2016 | 7:52 pm CDT
LANCASTER, Pa.- Armstrong Flooring, Inc. North America’s largest producer of resilient and wood flooring products completed its separation from Armstrong World Industries, Inc. (NYSE: AWI). Armstrong Flooring is now an independent, publicly traded company whose common stock will begin trading April 4 on the New York Stock Exchange under the symbol “AFI.”
Armstrong Flooring’s management team consists of highly qualified and experienced executives who possess extensive industry knowledge and strong operational acumen. They include:
Donald R. Maier – President and Chief Executive Officer
John “Jay” W. Thompson – Senior Vice President and Chief Financial Officer
David S. Schulz – Senior Vice President and Chief Operating Officer
Dominic C. Rice – Senior Vice President and North America Commercial
Joseph N. Bondi – Senior Vice President and North America Residential
“The completion of this separation marks an exciting new chapter in Armstrong Flooring’s storied 150-year history,” said Maier. “We bring to the market a distinguished legacy of success and differentiated go-to-market strategy that positions us well to continue to deliver high-quality, innovative flooring products. Looking ahead, we believe that we have a long-term opportunity to enhance shareholder value by successfully executing our strategy to reinvigorate profitable growth across our resilient and wood flooring businesses.”
Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions. Headquartered in Lancaster, Pa., Armstrong Flooring is the #1 manufacturer of resilient and wood flooring products across North America. The Company safely and responsibly operates 18 manufacturing facilities in three countries and employs approximately 3,500 individuals, all working together to provide the highest levels of service, quality and innovation to ensure it remains as strong and vital as its 150-year heritage.When it all began in a tiny two-man cork-cutting shop in 1860 in Pittsburgh, our national frontier barely reached beyond the western mountain ranges. Thomas Armstrong's first deliveries of hand-carved corks were by wheelbarrow.As buyer confidence in the Armstrong brand of product and service grew, so did national sales. In the mid-1890s, Armstrong emerged as the world's largest cork company.www.armstrongflooring.com.
The son of ordinary Scotch-Irish immigrants from Londonderry, Thomas Armstrong steered his struggling company through the Civil War, financial panics, disastrous factory fires and a cutthroat marketplace. He succeeded because he relied upon a family credo of hard work and faith. He attracted and held dedicated employees who shared the same values. He took pride in the production and sale of quality products that bore his family name. And he was determined that his company always act with fairness and in the balanced best interests of customers, stockholders, employees, suppliers, community neighbors, government and the general public.
Armstrong was among the first of American entrepreneurs to discard the old business principle "Let the buyer beware,” meaning the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made. Instead, he pioneered the principle "Let the buyer have faith," standing behind his products and giving customers confidence in their purchase. He was a branding innovator, too, stamping "Armstrong" on each cork as early as 1864. And soon he was tucking a written guarantee into the burlap sacks of cork shipped from a big new factory on a Pittsburgh riverbank.
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