The Urethane Blog

Everchem Updates

VOLUME XXI

September 14, 2023

Everchem’s Closers Only Club

Everchem’s exclusive Closers Only Club is reserved for only the highest caliber brass-baller salesmen in the chemical industry. Watch the hype video and be introduced to the top of the league: read more

BASF to increase prices for select polyalcohols in North and South America

FLORHAM PARK, NJ, May 16, 2022 – Effective June 1, 2022, or as existing contracts permit, BASF will increase prices in North and South America for select polyalcohols.  

Product  Price Increase
Neopentylglycol (NEOL®/NPG)  $0.05/lb$110/mt
1,6 Hexanediol Flake (HDO®)  $0.20/lb$441/mt
1,6 Hexanediol Molten (HDO®)  $0.20/lb$441/mt
Polycaprolactone (Capromer®)  $0.20/lb$441/mt
epsilon-Caprolactone (CLO)  $0.20/lb$441/mt
1,5-Pentanediol (PDO)  $0.20/lb$441/mt

Neopentylglycol (NPG) is a unique polyalcohol offering superior performance in many end-use applications. Due to its high chemical and thermal stability, NPG has proven itself in many applications, especially as a building block for the production of polyester and alkyd resins for various coatings and plastics. An essential field of NPG application is powder coatings, which prove particularly successful in the construction industry as well as in the coating of household appliances. Other areas of application for NPG include the manufacture of lubricants, plasticizers and pharmaceuticals: It is used as a building block in the synthesis of for example hormones, cardiovascular drugs and painkillers. BASF markets NPG under its NEOL® brand.

Hexanediol (HDO) is used to manufacture industrial coatings including lower volatile organic compound formulations, polyurethanes, adhesives, and cosmetics. HDO also serves as a reactive thinner in the formulation of epoxy systems, which for example are used for the efficient production of rotor blades for modern wind turbines, as well as construction components for automotive lightweight applications.

1,5-Pentanediol (PDO) is used as a linear diol to produce various resin types like polyester and polyurethane (polyester polyol and polycarbonate diol) resins. These resins are used for example in the production of adhesives and sealants. PDO is also used in the production of coatings where PDO contributes to a good balance between hardness and flexibility, adhesion, weatherability and hydrolysis resistance.

Capromer® polycaprolactone is a specialty polyol for high performance polyurethane applications for example thermoplastic elastomers used in technical applications and coatings.

NEOL®, HDO® and Capromer® are registered trademarks of BASF Corporation.  

https://www.basf.com/us/en/media/market-news-/2022/basf-to-increase-prices-for-select-polyalcohols-in-north-and-sou.html

May 14, 2022

Tosoh Results

Tosoh Reports Its Consolidated Results for Fiscal 2022

May  12,  2022 – Tokyo, Japan—Tosoh presents its full-year consolidated results for its 2022 fiscal year, from April 1, 2021, to March 31, 2022. The company’s consolidated net sales were ¥918.6 billion (US$8.2 billion), up ¥185.7 billion, or 25.3%, from fiscal 2021. The increase resulted from higher sales prices on the back of increased prices for raw materials and fuels such as naphtha, and of improved trade conditions overseas.

Operating income for fiscal 2022 was ¥144.0 billion (US$1.3 billion), an increase of ¥56.2 billion, or 64.0%. This increase was primarily due to improved international trade conditions as higher selling prices exceeded the impact of higher raw material and fuel prices. Ordinary income rose ¥65.4 billion, or 68.7%, to ¥160.5 billion (US$1.4 billion), while profit attributable to owners of the parent was up ¥44.6 billion, or 70.6%, to ¥107.9 billion (US$960.0 million).

During the period under review, the Japanese economy continued to recover from the lingering effects of the COVID-19 pandemic, driven by progress in vaccination and recovery in overseas demand. The situation remained unstable, though, as restrictions on social and economic activities were repeatedly imposed and eased as the number of infections oscillated. Concerning the global economy, while demand is on the road to recovery as restrictions on economic activities are being eased—particularly in developed countries—the outlook remains unclear, given the current downward pressures resulting from Russia’s invasion of Ukraine and the lockdown in Shanghai, China. Other economic slowdown factors such as the continued intermittent spread of COVID-19, surging resource prices, rising and prolonged inflation pressures, and disruptions in global supply chains are contributing to the uncertainty.

Results by business segment

Petrochemical Group

Petrochemical Group net sales rose ¥45.8 billion, or 34.9%, to ¥177.2 billion (US$1.6 billion), compared with fiscal 2021. The group’s operating income likewise increased, ¥8.0 billion, or 103.2%, to ¥15.7 billion (US$139.7 million). The increases were attributable to increased shipments of a broad range of products and to rising prices for raw materials and fuels such as naphtha which positively impacted the difference between product receipts and payments.

Shipments of propylene and cumene increased on the back of a recovery in demand and elevated production volumes. Moreover, higher prices for raw materials and fuels such as naphtha and improved conditions in markets overseas led to an increase in product prices.

Shipments of polyethylene resin increased both in Japan and exports as demand rebounded. In addition, polyethylene resin prices rose, reflecting higher naphtha prices and overseas market conditions. Shipment of chloroprene rubber increased in both domestic and export markets due to recovery in demand. And product prices rose, bolstered by firm overseas demand.

Chlor-alkali Group

The Chlor-alkali Group’s net sales rose ¥86.8 billion, or 31.6%, to ¥361.6 billion (US$3.2 billion), and operating income was up ¥28.0 billion yen, or 67.4%, to ¥69.5 billion (US$618.3 million) due to improved terms of trade for polyvinyl chloride (PVC) products and urethane raw materials.

Shipment of caustic soda decreased, mainly in exports, but product prices rose to reflect higher overseas market prices. Vinyl chloride monomer and vinyl chloride resin shipments both decreased as production volume declined, but vinyl chloride product prices rose, reflecting higher naphtha prices and improved terms of trade overseas.

Domestic and overseas shipments of cement remained strong.

Methylene diphenyl diisocyanate (MDI) increased both in Japan and overseas due to the steady operation of a production subsidiary in China, which had suspended operations in the previous fiscal year due to the spread of COVID-19, and a rebound in demand. In addition, product prices rose, reflecting improvement in overseas market conditions.

Specialty Group

Net sales by the Specialty Group increased ¥45.6 billion, or 25.3% to ¥226.2 billion (US$2.0 billion). Operating income was up ¥20.0 billion, or 85.0%, to ¥43.5 billion (US$387.0 million), primarily due to the recovery in demand driving an increase in sales volume.

Domestic and overseas ethyleneamines product shipments increased as demand recovered. And product prices increased due to improved overseas market conditions.

Separation-related products saw an increase in shipments of packing materials for liquid chromatography, to Europe, the United States, and China. Domestic in vitro diagnostic reagent shipments, as well as those to Europe, the United States, and Asia, rose on the back of the recovery in demand.

Shipments of high-silica zeolite increased both in Japan and overseas, primarily for automotive exhaust gas catalysts, as demand recovered. Increased demand also pushed export shipments of zirconia for dental applications upward. Silica glass shipments were up, buoyed by a strong semiconductor market. Shipments of electrolytic manganese dioxide for dry cell and rechargeable battery applications increased on the back of stronger demand.

Engineering Group

Engineering Group net sales increased ¥10.1 billion, or 9.5%, to ¥116.3 billion (US$1.0 billion). Operating income rose ¥0.3 billion yen, or 2.4%, to ¥12.3 billion (US$109.4 million).

The water treatment business saw increased sales attributable to steady progress in construction of large-scale projects in Japan and overseas, for which orders were received primarily in the electronics industry.

Sales in the Engineering Group’s construction subsidiaries increased.

Ancillary

Ancillary net sales decreased ¥2.5 billion, or 6.4% to ¥37.3 billion (US$331.9 million). Operating income likewise decreased ¥17 million, or 0.6%, to ¥3.1 billion (US$27.6 million).

Sales of other operating companies such as trading companies decreased.

Overview of Tosoh’s financial position for the period under review

Total assets increased ¥104.9 billion, to ¥1,087.7 billion yen (US$9.7 billion), primarily due to an increase in contract assets.

Because of an increase in notes and accounts payable, total liabilities rose ¥6.8 billion yen, to ¥327.9 billion yen (US$2.9 billion).

Net assets increased ¥98.0 billion, to ¥759.7 billion (US$6.8 billion). The increase owed itself to the recording of current net profit attributable to owners of the parent company.

Overview of Tosoh’s cash flow for the period under review

Cash and cash equivalents were up ¥12.4 billion, to ¥160.8 billion (US$1.4 billion).

Net cash provided by operating activities amounted to ¥108.6 billion (US$966.1 million), up ¥13.5 billion from a year earlier. This increase was due to an increase in income before income taxes.

Net cash used in investing activities was ¥43.5 billion (US$387.0 million), a decrease of ¥2.8 billion caused by decreased expenditures used in the acquisition of fixed assets.

As a result, free cash flow rose ¥16.3 billion, to ¥65.1 billion (US$579.2 million).

Net cash used in financing activities was ¥57.9 billion (US$515.1 million), an increase of ¥59.4 billion yen from a year earlier because of a net increase in short-term loans payable.

Outlook for the fiscal year ending March 31, 2023

Social and economic activities that have been constrained by the impact of COVID-19 are expected to begin normalizing in many of the world’s major regions, backed by progress in vaccination. However, Russia’s invasion of Ukraine and prolonged economic sanctions have amplified downside risks to the global economy through soaring resource prices and other factors. As such, uncertainty in the outlook for economic conditions domestically and abroad is expected to persist.

Under these circumstances, the Group will remain vigilant with regard to business risks and changes in the business environment, such as the situation in Ukraine and the status of normalization of the pandemic in Japan and overseas. Other factors include the deterioration of the supply-demand environment due to various uncertainties, volatility in raw material and fuel prices and trade conditions abroad, exchange rates fluctuations, and supply chain disruptions. Tosoh will strive to secure earnings by responding quickly and flexibly as situations evolve.

As for fiscal year 2023, the deteriorating situation in Ukraine will greatly intensify the volatility of prices of major raw materials and fuels such as naphtha and coal, which will significantly impact trade conditions and the difference between inventory receipts and payments, as well as the rapid depreciation of the yen against other currencies.

Since there are many uncertainties at this time and it is difficult to present a reasonable earnings forecast, Tosoh will release its forecast as soon as it deems the situation has stabilized sufficiently.

https://www.cmocro.com/news_detail/Tosoh_Reports_Its_Consolidated_Results_for_Fiscal_2022/690729/index.html

May 14, 2022

Tosoh Results

Tosoh Reports Its Consolidated Results for Fiscal 2022

May  12,  2022 – Tokyo, Japan—Tosoh presents its full-year consolidated results for its 2022 fiscal year, from April 1, 2021, to March 31, 2022. The company’s consolidated net sales were ¥918.6 billion (US$8.2 billion), up ¥185.7 billion, or 25.3%, from fiscal 2021. The increase resulted from higher sales prices on the back of increased prices for raw materials and fuels such as naphtha, and of improved trade conditions overseas.

Operating income for fiscal 2022 was ¥144.0 billion (US$1.3 billion), an increase of ¥56.2 billion, or 64.0%. This increase was primarily due to improved international trade conditions as higher selling prices exceeded the impact of higher raw material and fuel prices. Ordinary income rose ¥65.4 billion, or 68.7%, to ¥160.5 billion (US$1.4 billion), while profit attributable to owners of the parent was up ¥44.6 billion, or 70.6%, to ¥107.9 billion (US$960.0 million).

During the period under review, the Japanese economy continued to recover from the lingering effects of the COVID-19 pandemic, driven by progress in vaccination and recovery in overseas demand. The situation remained unstable, though, as restrictions on social and economic activities were repeatedly imposed and eased as the number of infections oscillated. Concerning the global economy, while demand is on the road to recovery as restrictions on economic activities are being eased—particularly in developed countries—the outlook remains unclear, given the current downward pressures resulting from Russia’s invasion of Ukraine and the lockdown in Shanghai, China. Other economic slowdown factors such as the continued intermittent spread of COVID-19, surging resource prices, rising and prolonged inflation pressures, and disruptions in global supply chains are contributing to the uncertainty.

Results by business segment

Petrochemical Group

Petrochemical Group net sales rose ¥45.8 billion, or 34.9%, to ¥177.2 billion (US$1.6 billion), compared with fiscal 2021. The group’s operating income likewise increased, ¥8.0 billion, or 103.2%, to ¥15.7 billion (US$139.7 million). The increases were attributable to increased shipments of a broad range of products and to rising prices for raw materials and fuels such as naphtha which positively impacted the difference between product receipts and payments.

Shipments of propylene and cumene increased on the back of a recovery in demand and elevated production volumes. Moreover, higher prices for raw materials and fuels such as naphtha and improved conditions in markets overseas led to an increase in product prices.

Shipments of polyethylene resin increased both in Japan and exports as demand rebounded. In addition, polyethylene resin prices rose, reflecting higher naphtha prices and overseas market conditions. Shipment of chloroprene rubber increased in both domestic and export markets due to recovery in demand. And product prices rose, bolstered by firm overseas demand.

Chlor-alkali Group

The Chlor-alkali Group’s net sales rose ¥86.8 billion, or 31.6%, to ¥361.6 billion (US$3.2 billion), and operating income was up ¥28.0 billion yen, or 67.4%, to ¥69.5 billion (US$618.3 million) due to improved terms of trade for polyvinyl chloride (PVC) products and urethane raw materials.

Shipment of caustic soda decreased, mainly in exports, but product prices rose to reflect higher overseas market prices. Vinyl chloride monomer and vinyl chloride resin shipments both decreased as production volume declined, but vinyl chloride product prices rose, reflecting higher naphtha prices and improved terms of trade overseas.

Domestic and overseas shipments of cement remained strong.

Methylene diphenyl diisocyanate (MDI) increased both in Japan and overseas due to the steady operation of a production subsidiary in China, which had suspended operations in the previous fiscal year due to the spread of COVID-19, and a rebound in demand. In addition, product prices rose, reflecting improvement in overseas market conditions.

Specialty Group

Net sales by the Specialty Group increased ¥45.6 billion, or 25.3% to ¥226.2 billion (US$2.0 billion). Operating income was up ¥20.0 billion, or 85.0%, to ¥43.5 billion (US$387.0 million), primarily due to the recovery in demand driving an increase in sales volume.

Domestic and overseas ethyleneamines product shipments increased as demand recovered. And product prices increased due to improved overseas market conditions.

Separation-related products saw an increase in shipments of packing materials for liquid chromatography, to Europe, the United States, and China. Domestic in vitro diagnostic reagent shipments, as well as those to Europe, the United States, and Asia, rose on the back of the recovery in demand.

Shipments of high-silica zeolite increased both in Japan and overseas, primarily for automotive exhaust gas catalysts, as demand recovered. Increased demand also pushed export shipments of zirconia for dental applications upward. Silica glass shipments were up, buoyed by a strong semiconductor market. Shipments of electrolytic manganese dioxide for dry cell and rechargeable battery applications increased on the back of stronger demand.

Engineering Group

Engineering Group net sales increased ¥10.1 billion, or 9.5%, to ¥116.3 billion (US$1.0 billion). Operating income rose ¥0.3 billion yen, or 2.4%, to ¥12.3 billion (US$109.4 million).

The water treatment business saw increased sales attributable to steady progress in construction of large-scale projects in Japan and overseas, for which orders were received primarily in the electronics industry.

Sales in the Engineering Group’s construction subsidiaries increased.

Ancillary

Ancillary net sales decreased ¥2.5 billion, or 6.4% to ¥37.3 billion (US$331.9 million). Operating income likewise decreased ¥17 million, or 0.6%, to ¥3.1 billion (US$27.6 million).

Sales of other operating companies such as trading companies decreased.

Overview of Tosoh’s financial position for the period under review

Total assets increased ¥104.9 billion, to ¥1,087.7 billion yen (US$9.7 billion), primarily due to an increase in contract assets.

Because of an increase in notes and accounts payable, total liabilities rose ¥6.8 billion yen, to ¥327.9 billion yen (US$2.9 billion).

Net assets increased ¥98.0 billion, to ¥759.7 billion (US$6.8 billion). The increase owed itself to the recording of current net profit attributable to owners of the parent company.

Overview of Tosoh’s cash flow for the period under review

Cash and cash equivalents were up ¥12.4 billion, to ¥160.8 billion (US$1.4 billion).

Net cash provided by operating activities amounted to ¥108.6 billion (US$966.1 million), up ¥13.5 billion from a year earlier. This increase was due to an increase in income before income taxes.

Net cash used in investing activities was ¥43.5 billion (US$387.0 million), a decrease of ¥2.8 billion caused by decreased expenditures used in the acquisition of fixed assets.

As a result, free cash flow rose ¥16.3 billion, to ¥65.1 billion (US$579.2 million).

Net cash used in financing activities was ¥57.9 billion (US$515.1 million), an increase of ¥59.4 billion yen from a year earlier because of a net increase in short-term loans payable.

Outlook for the fiscal year ending March 31, 2023

Social and economic activities that have been constrained by the impact of COVID-19 are expected to begin normalizing in many of the world’s major regions, backed by progress in vaccination. However, Russia’s invasion of Ukraine and prolonged economic sanctions have amplified downside risks to the global economy through soaring resource prices and other factors. As such, uncertainty in the outlook for economic conditions domestically and abroad is expected to persist.

Under these circumstances, the Group will remain vigilant with regard to business risks and changes in the business environment, such as the situation in Ukraine and the status of normalization of the pandemic in Japan and overseas. Other factors include the deterioration of the supply-demand environment due to various uncertainties, volatility in raw material and fuel prices and trade conditions abroad, exchange rates fluctuations, and supply chain disruptions. Tosoh will strive to secure earnings by responding quickly and flexibly as situations evolve.

As for fiscal year 2023, the deteriorating situation in Ukraine will greatly intensify the volatility of prices of major raw materials and fuels such as naphtha and coal, which will significantly impact trade conditions and the difference between inventory receipts and payments, as well as the rapid depreciation of the yen against other currencies.

Since there are many uncertainties at this time and it is difficult to present a reasonable earnings forecast, Tosoh will release its forecast as soon as it deems the situation has stabilized sufficiently.

https://www.cmocro.com/news_detail/Tosoh_Reports_Its_Consolidated_Results_for_Fiscal_2022/690729/index.html

Armstrong Flooring Files Voluntary Chapter 11 Petitions; Continuing to Pursue Sale of Business Through Chapter 11 Process

Download as PDF May 09, 2022 2:09am EDT

Company to continue fulfilling orders and commitments to stakeholders, providing the highest levels of innovation, quality and service

LANCASTER, Pa., May 09, 2022 (GLOBE NEWSWIRE) — Armstrong Flooring, Inc. (NYSE: AFI), a leader in the design and manufacture of innovative flooring solutions (“Armstrong Flooring” or “the Company”), today announced that the Company and certain of its subsidiaries have filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In a continuation of its ongoing sale process, the Company intends to continue pursuing an efficient and value-maximizing sale of its business through a competitive Chapter 11 sale process. The Company’s businesses in China and Australia will not be included in the Chapter 11 filing, but they are part of the sale process.

In December 2021, Armstrong Flooring retained Houlihan Lokey Capital Inc. to assist with a process for the sale of the Company along with the consideration of other strategic alternatives. The sale process is continuing, and Armstrong Flooring hopes to consummate an orderly sale of the entire business or its core assets as soon as practicable.

“Our business and team members have been working diligently to strengthen our financial foundation in the face of several macroeconomic trends—including supply chain challenges, the current inflationary environment and continued headwinds from the COVID-19 pandemic,” said Michel Vermette, President and Chief Executive Officer. “With the support of our Board of Directors, we have determined that using the Chapter 11 process to effectuate a potential sale is the right next step for our Company. As we have said previously, we firmly believe in the value and potential of Armstrong Flooring—and we are confident that this definitive action puts us in the best possible position to preserve and maximize value for our stakeholders. In the meantime, we are open for business and remain firmly committed to our customers, vendors and employees as we navigate the path forward.”

In order to fund and preserve its operations during the Chapter 11 process, the Company has entered into a credit agreement, subject to Bankruptcy Court approval, providing for $30 million of debtor-in-possession (“DIP”) financing. Upon approval by the Bankruptcy Court, the DIP financing will provide Armstrong Flooring with the necessary liquidity to operate and cover administrative expenses as it pursues a value-maximizing sale.

The Company will file certain motions with the Bankruptcy Court requesting customary relief that will enable Armstrong Flooring to transition into Chapter 11 with as little disruption to its ordinary-course operations as possible, including support for payment of employee wages and certain benefit programs. The Company expects these motions to be approved within the first few days of the case.

For more information about Armstrong Flooring’s Chapter 11 case, please visit http://dm.epiq11.com/ArmstrongFlooring, email ArmstrongFlooringInfo@epiqglobal.com or call (888) 905-0459 for U.S. calls or +1 (503) 597-5611 for international calls.

The Company is represented in this matter by Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor, Houlihan Lokey Capital Inc. as its investment bank, and Riveron RTS, LLC as financial advisor.

About Armstrong Flooring
Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions that inspire beauty wherever your life happens. Headquartered in Lancaster, Pennsylvania, Armstrong Flooring continually builds on its resilient, 150-year legacy by delivering on its mission to create a stronger future for customers through adaptive and inventive solutions. The company safely and responsibly operates seven manufacturing facilities globally, working to provide the highest levels of service, quality, and innovation to ensure it remains as strong and vital as its 150-year heritage. Learn more at www.armstrongflooring.com.

https://ir.armstrongflooring.com/news-events/press-releases/detail/79/armstrong-flooring-files-voluntary-chapter-11-petitions

Armstrong Flooring Files Voluntary Chapter 11 Petitions; Continuing to Pursue Sale of Business Through Chapter 11 Process

Download as PDF May 09, 2022 2:09am EDT

Company to continue fulfilling orders and commitments to stakeholders, providing the highest levels of innovation, quality and service

LANCASTER, Pa., May 09, 2022 (GLOBE NEWSWIRE) — Armstrong Flooring, Inc. (NYSE: AFI), a leader in the design and manufacture of innovative flooring solutions (“Armstrong Flooring” or “the Company”), today announced that the Company and certain of its subsidiaries have filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In a continuation of its ongoing sale process, the Company intends to continue pursuing an efficient and value-maximizing sale of its business through a competitive Chapter 11 sale process. The Company’s businesses in China and Australia will not be included in the Chapter 11 filing, but they are part of the sale process.

In December 2021, Armstrong Flooring retained Houlihan Lokey Capital Inc. to assist with a process for the sale of the Company along with the consideration of other strategic alternatives. The sale process is continuing, and Armstrong Flooring hopes to consummate an orderly sale of the entire business or its core assets as soon as practicable.

“Our business and team members have been working diligently to strengthen our financial foundation in the face of several macroeconomic trends—including supply chain challenges, the current inflationary environment and continued headwinds from the COVID-19 pandemic,” said Michel Vermette, President and Chief Executive Officer. “With the support of our Board of Directors, we have determined that using the Chapter 11 process to effectuate a potential sale is the right next step for our Company. As we have said previously, we firmly believe in the value and potential of Armstrong Flooring—and we are confident that this definitive action puts us in the best possible position to preserve and maximize value for our stakeholders. In the meantime, we are open for business and remain firmly committed to our customers, vendors and employees as we navigate the path forward.”

In order to fund and preserve its operations during the Chapter 11 process, the Company has entered into a credit agreement, subject to Bankruptcy Court approval, providing for $30 million of debtor-in-possession (“DIP”) financing. Upon approval by the Bankruptcy Court, the DIP financing will provide Armstrong Flooring with the necessary liquidity to operate and cover administrative expenses as it pursues a value-maximizing sale.

The Company will file certain motions with the Bankruptcy Court requesting customary relief that will enable Armstrong Flooring to transition into Chapter 11 with as little disruption to its ordinary-course operations as possible, including support for payment of employee wages and certain benefit programs. The Company expects these motions to be approved within the first few days of the case.

For more information about Armstrong Flooring’s Chapter 11 case, please visit http://dm.epiq11.com/ArmstrongFlooring, email ArmstrongFlooringInfo@epiqglobal.com or call (888) 905-0459 for U.S. calls or +1 (503) 597-5611 for international calls.

The Company is represented in this matter by Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor, Houlihan Lokey Capital Inc. as its investment bank, and Riveron RTS, LLC as financial advisor.

About Armstrong Flooring
Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions that inspire beauty wherever your life happens. Headquartered in Lancaster, Pennsylvania, Armstrong Flooring continually builds on its resilient, 150-year legacy by delivering on its mission to create a stronger future for customers through adaptive and inventive solutions. The company safely and responsibly operates seven manufacturing facilities globally, working to provide the highest levels of service, quality, and innovation to ensure it remains as strong and vital as its 150-year heritage. Learn more at www.armstrongflooring.com.

https://ir.armstrongflooring.com/news-events/press-releases/detail/79/armstrong-flooring-files-voluntary-chapter-11-petitions