ICS Magazine

Armstrong Terminates Desso Sale

June 13, 2001
Germany -- Armstrong DLW AG has terminated discussions with CVC Capital Partners B.V. concerning the possible sale of the textile and sports flooring businesses in its Desso commercial carpet operations. On February 19, 2001, Armstrong DLW AG issued an announcement that discussions had begun with CVC with a view towards a sale of Desso.

According to President and CEO, Gerard L. Glenn, discussions ended after the parties were unable to come to agreement on all the issues.

Desso, with approximately 1,300 employees worldwide, manufactures textile and sports flooring in The Netherlands, Germany and Belgium. Based in Oss, The Netherlands, Desso had annual sales of approximately 300 million Euros in 2000. Armstrong Holdings, Inc. is the parent company of Desso.