American Olean to merge with Dal-Tile International.DALLAS--(BUSINESS WIRE)--Sept. 1, 1995--Dal-Tile International Inc. (DTI Diffusion tensor imaging (DTI) A refinement of magnetic resonance imaging that allows the doctor to measure the flow of water and track the pathways of white matter in the brain. ) and Armstrong World Industries Armstrong World Industries, Inc. is an international designer and manufacturer of floors, ceilings and cabinets. Based in Lancaster, Pennsylvania, Armstrong operates 39 plants in 10 countries and has approximately 13,000 employees worldwide. , Inc. (AWI AWI Armstrong World Industries, Inc (Lancaster, PA) AWI Australian Wool Innovation Limited AWI Agency for Workforce Innovation (Florida) AWI Animal Welfare Institute AWI American War of Independence ) announced today the signing of a Letter of Intent covering the proposed merger of the ceramic tile business of American Olean, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AWI, with Dal-Tile International Inc. Upon completion of the merger, Howard I. Bull, chief executive officer of Dal-Tile will be chief executive officer of the combined company. Dal-Tile, headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , manufactures in seven locations in North America and distributes through over 200 company owned wholesale tile outlets in the United States, Mexico and Canada. American Olean, located in Lansdale, Pa., with manufacturing facilities in five locations, distributes through a combination of over 60 company owned outlets and a network of independent tile and floor covering distributors. The proposed combination will allow improved levels of customer service through more efficient utilization of the manufacturing and distribution resources of both companies. In addition, it is the view of both parties that this transaction will enable the merged entity to more successfully compete with the significant competition in North America from foreign suppliers. CONTACT: Dal-Tile International Inc. Alan Hilburg, 703/790-1051 |
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