Mannington Sells Out to Armstrong
Recently announced, Mannington mills producer and distributors of vinyl tiles is selling out to Armstrong. Both companies have strong bonds in the commercial and industrial sites around the US. Their commitment to quality at a great price has kept these two going for years. Mannington is a fourth generation floor distributer and Armstrong follows right along with them. The idea came along, and an agreement was made. Armstrong would pay nearly 30 million dollars to purchase Mannington Mill.
After a recent drop in Armstrong's revenue from weak sales, they decided this merger buyout would be the best thing they could do. It would be a win-win for either of them really. Mannington would continue to receive payments on revenue up till 2020. They would also be able to look into further investing into high growth profit markets, while keeping up with the goals they had already set for the long term. As for Armstrong, they aren't producing new products at the Mannington Mill, they will continue with what is already happening there. Armstrong’s president CEO believes that with this, they will be able to significantly increase their revenue, while being able to keep up with the demand from consumers.
Armstrong’s CEO Don Maier, also seems to be very pleased with this deal. He believes that if he increases his distribution and manufacturing facilities, that he will be able to keep up with the supply and demand to keep up with and even accredit their revenue in 2018. He feels that the drive in profit will primarily come from the increase in the supply ability.
Maier and Armstrong have a long history in the US and they know what it takes to keep their customers coming back and back for more every time. The quality of the work is spreading quickly across the region as it is seen being added more and more to merchants all over the world. Armstrong is able to keep their prices low while still able to maintain a great quality product. Armstrong had a few set back over the past few tax years. While showing a gain their expenses sent them in a downward spiral. The deficit seemed to becoming from weakened sales strategies. Maybe it could be from the lack of serviceable areas due to travel. But this merger buy out should be just the key Armstrong and Miaer need to help get them back on track and in the green again on revenue.
Maier also believes that with his knowledge in the VCT business along with what they are acquiring, will be the grease behind the gears that sets everything in motion for them. This chain of events, to Maier, will help them achieve their medium term financial goals. Either way you look at it the sell out is a pretty good thing for both parties. They both get to continue to invest and earn. I have a feeling that we will be seeing them both around for a long time to come yet. See Mannington Sells Out to Armstrong for even more details.
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