Sales volume of the $23.14 billion U.S. floor covering market totaled 20.52 billion square feet in 2015, says Catalina Research, with hardwood flooring accounting for 1.70 billion and laminate flooring 950 million square feet. Overall projections look good, as both residential and commercial new construction and remodeling markets continue to improve.
LAS VEGAS –The popularity of Lumber Liquidators’ laminate and hardwood flooring continues to rebound, based on the large number of crowds gathered at the booth during the recent International Builders Show in Las Vegas. Driftwood and similar whitewashed colors garnered a lot of interest from attendees, as did distressed and rustic looks in both hardwood and laminate flooring, commented Jay Quickel, vice president of merchandising for the Toano, Virginia-based producer.
KronotexUSA and its parent firm Swiss Krono Group will invest $230 million to build a high-density fiberboard mill and expand the company's laminate flooring production in Barnwell County, South Carolina, a move which will create 105 new jobs over the next few years.
Laminate flooring producer KronotexUSA has named Zeb Portanova as its new president and CEO, effective Feb. 1. Portanova succeeds Norm Voss, who has been serving as interim CEO since March 2014; Voss will remain with Kronotex as a member of the board of directors.
Laminate flooring and panel producer Kronospan has entered the U.S. flooring market, acquiring Clarion Boards Inc. and Clarion Laminates LLC. The Shippenville, PA-based Clarion Industries says it is the only fully integrated laminate flooring operation in North America. Based in Austria, Kronospan operates an MDF mill in Alabama.
Lumber Liquidators has fired its chief merchandising officer, William K. Schlegel. The position will be integrated with the flooring manufacturer's marketing department, with Marco Q. Pescara taking over as Chief Merchandising and Marketing Officer, effective June 19. Pescara has served as Chief Marketing Officer with the company since 2006.
Lumber Liquidators' chief compliance office has left the embattled flooring manufacturer as fallout from reports that the company sold "toxic" laminate flooring from China continues. Cotton's resignation comes as the company deals with allegations that the formaldehyde testing firm it hired sent homeowners screening test kits with false accreditation labels.
Consumer-rights law firm Hagens Berman filed an expanded lawsuit against Lumber Liquidators (NYSE:LL), stating that the flooring company not only sold noncompliant composite flooring, but that its engineered hardwood floors also contain hazardous levels of cancer-causing formaldehyde, according to the lawsuit.
Lumber Liquidators continues to face fallout from allegations that it sold toxic flooring imported from China. A few weeks after firing CFO Daniel Terrell, the hardwood and laminate flooring producer announced the sudden resignation of President and CEO Robert Lynch.
Consumer-rights firm Hagens Berman today filed a new class-action lawsuit against Lumber Liquidators allegeding that the company has orchestrated a “campaign of misinformation” including bogus home testing kits designed to under-report levels of formaldehyde for those with affected flooring. The firm’s investigation also revealed that the third party providing the home testing kits is not independent, but is being paid by Lumber Liquidators.