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OFFON

ARMSTRONG WORLD INDUSTRIES, INC.

(AWI)
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Armstrong World Industries Acquires Plasterform, Inc.

05/31/2018 | 06:54pm EDT

LANCASTER, Pa., May 31, 2018 (GLOBE NEWSWIRE) -- Armstrong World Industries, Inc. (NYSE:AWI) today announced that it has acquired the business and assets of Plasterform, Inc., a 31-year manufacturer of ultra-expressive, durable, custom architectural cast ceilings, walls, facades, columns and moldings, located in Mississauga, Ontario, Canada, with annual revenues of roughly $10 million.  Plasterform products are made of glass-reinforced gypsum, concrete and polyester resin, and will continue to be sold in Canada, the U.S. and Latin America, now as part of the Armstrong Architectural Specialties custom portfolio.  The acquisition enhances AWI’s interior accent capabilities, and further supports the company’s growth strategy of selling into more spaces and selling more into every space. 

Plasterform(TM) Custom Wall Panels
Experimental Media and Performing Arts Center, Troy, NY; Grimshaw Architects and David Brody Bond


Plasterform(TM) Custom Wall Panels
Experimental Media and Performing Arts Center, Troy, NY; Grimshaw Architects and David Brody Bond


Plasterform(TM) coffers and cornice
The Rockwell Building, Cleveland, OH; Sandvick Architects and Vocon


AWI CEO Vic Grizzle said, “With the unique product and service capabilities of Plasterform, we expand and enrich what is already the broadest portfolio of standard and custom specialty ceilings and walls on the market today.  We are excited to welcome Plasterform’s employees, sales team, customers, and business partners to the Armstrong family.”

Armstrong expects to serve existing and future Plasterform customers out of its Mississauga manufacturing facility, as well as through its current distribution channels.  Armstrong funded the acquisition with available cash.  Financial terms of the transaction were not disclosed.

To learn more about the AWI line of Plasterform architectural solutions, visit www.armstrongceilings.com/plasterform.

Contacts
Investors: Thomas Waters, twaters@armstrongceilings.com or (717) 396-6354
Media: Jennifer Johnson, jenniferjohnson@armstrongceilings.com or (866) 321-6677

About Armstrong World Industries
Armstrong World Industries, Inc. (AWI) is a global leader in the design and manufacture of innovative commercial and residential ceiling, wall and suspension system solutions.

Uncertainties Affecting Forward-Looking Statements
Disclosures in this release and in our other public documents and comments may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "outlook," "target," "predict," "may," "will," "would," "could," "should," "seek," and other words or phrases of similar meaning in connection with any discussion of future operating or financial performance.  Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future.  As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements.  A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated or implied is included in the “Risk Factors” and “Management’s Discussion and Analysis” sections of our reports on Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission.  Forward-looking statements speak only as of the date they are made.  We do not undertake or assume any obligation to update or revise any forward-looking statements beyond what is required under applicable securities law.        

 

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/4242a1c6-c588-49fd-a3bf-7f70b210dfad

http://www.globenewswire.com/NewsRoom/AttachmentNg/d39ced48-29c2-4e73-a8d2-94d5d96873f6

http://www.globenewswire.com/NewsRoom/AttachmentNg/02cbc4bd-fb09-4b4b-9a57-5e20e6d6aa86

An attachment accompanying this announcement is available at 

http://resource.globenewswire.com/Resource/Download/45fa5567-f0e6-46f8-9b58-d142f3477c17


ę GlobeNewswire 2018
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Financials (USD)
Sales 2021 1 078 M - -
Net income 2021 199 M - -
Net Debt 2021 492 M - -
P/E ratio 2021 24,9x
Yield 2021 0,85%
Capitalization 4 983 M 4 983 M -
EV / Sales 2021 5,08x
EV / Sales 2022 4,67x
Nbr of Employees 2 800
Free-Float 75,4%
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Technical analysis trends ARMSTRONG WORLD INDUSTRIES, INC.
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Mean consensus HOLD
Number of Analysts 8
Average target price 102,00 $
Last Close Price 104,05 $
Spread / Highest target 19,2%
Spread / Average Target -1,97%
Spread / Lowest Target -9,66%
EPS Revisions
Managers and Directors
NameTitle
Victor D. Grizzle President, Chief Executive Officer & Director
Brian L. MacNeal Chief Financial Officer & Senior Vice President
Larry S. McWilliams Chairman
Mark A. Hershey Secretary, Chief Compliance Officer & Senior VP
Stanley A. Askren Independent Director
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