EXHIBIT 99.1
FOR IMMEDIATE RELEASE | CONTACT: | Media Inquiries: | ||
September 30, 2004 | Dorothy Brown Smith | |||
| Vice President, Corporate | ||||
| Communication | ||||
| (717) 396-5696 | ||||
| Investor Inquiries: | ||||
| Karen Wallace | ||||
| Assistant Treasurer | ||||
| Investor Relations | ||||
| (717) 396-6290 | ||||
ARMSTRONG COMMENTS ON EMPLOYEE STRIKE IN THE NETHERLANDS
LANCASTER, Pa. September 30, 2004 — Armstrong Holdings, Inc. (OTCBB: ACKHQ) today indicated that certain of its employees at its plant in Hoogezand, The Netherlands have not returned to work following a nationwide planned 2-day work stoppage last week. In January 2004, Armstrong announced its intention to cease production at the facility in early 2005, subject to positive advice from the Works Council, in order to eliminate excess capacity serving the European markets. The plant supplies less than 10% of Armstrong’s unit volume ceiling products sales to the European and Asian markets.
At this time, Armstrong is unsure of the timing of a resolution and the actual impact of this event on operations, which could have a material impact on financial results. Armstrong continues to operate the facility at minimal staffing levels and is shipping products to meet customer requirements. Armstrong is evaluating alternative sourcing to mitigate the impact of a continuing work stoppage while discussions with representative unions proceed.
Armstrong Holdings, Inc. is the parent company of Armstrong World Industries, Inc., a global leader in the design and manufacture of flooring, ceilings and cabinets. In 2003, Armstrong’s net sales totaled more than $3 billion. Based in Lancaster, PA, Armstrong has 44 plants in 12 countries and approximately 15,300 employees worldwide. More information about Armstrong is available on the Internet at www.armstrong.com.
These materials contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements provide our expectations or forecasts of future events. Actual results could differ materially as a result of known and unknown risks and uncertainties and other factors, including: the outcome of Armstrong World Industries Inc.’s (“AWI”) Chapter 11 case; our ability to maintain financial liquidity; AWI’s asbestos-related liability and any other litigation; variations in raw material and energy costs; our success in achieving manufacturing efficiencies and price increases; our success in introducing new products; product and price competition caused by factors such as worldwide excess industry capacity; interest, foreign exchange and effective tax rates; success in achieving integration of and synergies from our acquisitions; greater than expected working capital requirements; business combinations among competitors and suppliers; the strength of domestic and foreign end-use markets; effects on international operations from changes in intellectual property protection and trade regulations; and other risks, uncertainties and factors disclosed in our and AWI’s most recent reports on Forms 10-K, 10-Q and 8-K filed with the SEC. We undertake no obligation to update any forward-looking statement.
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