Skanska increases co-operation with Armstrong - a global leader in the resilent flooring industry
Skanska has reached an agreement to sell 51 percent of its shares in Holmsund Golv AB in Holmsund, Sweden, with its subsidiary Leksells AB in Falun, Sweden. The buyer is Armstrong World Industries, a global leader in the resilient flooring industry.
SKANSKA INCREASES CO-OPERATION WITH ARMSTRONG - A GLOBAL LEADER IN THE RESILIENT FLOORING INDUSTRY
Skanska has reached an agreement to sell 51 percent of its shares in Holmsund Golv AB in Holmsund, Sweden, with its subsidiary Leksells AB in Falun, Sweden. The buyer is Armstrong World Industries, a global leader in the resilient flooring industry.
Holmsund and Leksells produces and markets resilient flooring products and has a total sale of appr. USD 30 M. The company is part of Skanskas business area Industry.
In 1994 a co-operation agreement was formed with Armstrong which is now enhanced through the joint-venture. With this new agreement, Holmsund/Leksells will benefit from Armstrongs knowledge and experience in purchasing, production, product development and marketing. A consolidation of the organizations in Holmsund and Leksells will take place.
"This is the next logical step in our co-operation and an industrially proper solution for Holmsund/Leksells, offering the customers in Scandinavia a world leading range of resilient flooring products, through a well-established sales network " says Mr Anders C. Karlsson, President of Skanska business area Industry.
"The transaction will give Armstrong the ability to market the Holmsund-special products with full power around the world, and at the same time co-ordinate the marketing of our joint product range through the well-established network of Leksells in Scandinavia " says Mr Stuart Large, head of resilient flooring at Armstrong Europe.
Danderyd, March 21, 1997
SKANSKA AB
Group Public Affairs
Lennart Hallberg
For further information, kindly contact:
Anders C. Karlsson, Skanska AB, business area Industry, tel. +46 40 14 40 00, or Stuart Large, Armstrong World Industries Ltd, +44 1895 25 11 22
This and previous press releases are also available on http://www.skanska.com