VAILS GATE, NY, Sept. 12 /CNW Telbec/ - Mannington Mills and Domco Tarkett, two of the most prominent names in the flooring industry, have announced that they have formed a joint venture to manufacture vinyl composition tile (VCT). The product will be manufactured in Vails Gate, NY.

This is purely a manufacturing joint venture that will be run by its own board of directors. The respective companies will maintain independent product lines, sales and marketing organizations, and will continue to compete in the marketplace.

"We are excited about this partnership. It's a win-win situation that will allow both of our companies to grow and thrive," said Tom Davis, President and CEO of Mannington. He added, "This joint venture is an innovative solution that will allow both companies to maximize manufacturing potential."

Ulf Mattsson, President and CEO of Domco Tarkett, stated, "We view this as a strong alliance, combining the strength of two industry leaders. We look forward to the opportunities ahead."

The agreement went into effect on September 12, 2003.