Armstrong sells cabinet business
Armstrong World Industries has entered into an agreement to sell its cabinets business to American Industrial Partners for $27 million, according to a company announcement. Headquartered in The Colony, Texas, Armstrong’s cabinet division has a manufacturing facility in Thompsontown, Pa., and employs approximately 750 people. Sales in 2011 were $136 million, just under 5% of the company’s total sales. The unit had a loss in 2011 and had not been profitable since 2007.
“Exiting our cabinets business supports our business strategy to focus on our core businesses — flooring and ceilings — around the world," said Armstrong CEO Matt Espe. "We are working closely with AIP to ensure a smooth transition for our employees, customers and suppliers."
American Industrial Partners was founded in 1989 and is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The transaction is expected to be completed in the fourth quarter of 2012.
Alleged tree poisoner arrested after dispute at Lowe’s
A college football fan accused of spiking mature oak trees with an herbicide in Birmingham, Ala., was arrested at a Louisiana Lowe’s store following an argument at the returns desk over a lawn mower refund.
The Hammond Daily Star reported that Harvey Updyke Jr., 63, demanded $150 for returning a lawnmower to Lowe’s on Sept. 18 , but the store manager told him he was only due $110. After the situation escalated, store personnel called the police.
Updyke was booked into jail after making comments deemed threatening to Lowe’s employees. He is currently awaiting trial in Alabama, where the University of Alabama football fan stands accused of poisoning a group of venerable oak trees at Auburn University following a 2010 national championship game between the two teams. Auburn, which beat Alabama 28-27 in the Iron Bowl, traditionally decorates the trees following big victories.
Updyke has pleaded not guilty by reason of mental disease or defect to criminal mischief, desecrating a venerable object and other charges. If convicted, he faces up to 10 years in prison.
Paslode launches new finish nailing system
With the introduction of the new 16-Gauge Angled Li-ion Cordless Finish Nailing System, Paslode said it is offering today’s building professionals a solution that has all the key features plus the freedom of cordless convenience.
Vernon Hills, Ill.-based Paslode designed the new Cordless Finish Nailing System for the professional. When coupled with the Fuel+Nail Combo Pack, the system features tool, fuel and nails. Each Fuel+Nail Combo Pack includes 1,000 nails and a quicklode fuel cartridge that delivers the appropriate level of fuel.
At 4.5 lbs., the compact Cordless Finish Nailer reaches tough corners and tight spaces while minimizing fatigue. This lightweight system also eliminates compressor noise, hose management and clutter. Featuring a 7.4-volt battery and a one-hour rapid charger, the system drives up to 6,000 nails per charge and can reach 80% charge in just 30 minutes, the company claimed.