Armstrong World Industries (AWI) said it would spin off its flooring business to create two separate publicly traded companies. Armstrong World expects total sales of $2.53-$2.63 billion this year, but that is short of analysts average estimate of $2.70 billion, according to Thomson Reuters I/B/E/S. The tax-free spin-off of the floorings unit is expected to close in the first quarter of 2016. Source
Spin-Off
