What is the story about?
What's Happening?
Mannington Mills has announced the sale of its San Jose-based Burke Industries manufacturing operations to Polycorp Ltd., a company specializing in engineered elastomer solutions. The transaction involves only the non-flooring rubber business of Burke Industries, allowing Mannington to focus on its core flooring business. Mannington will continue to produce rubber and vinyl flooring products at its facilities in Georgia and Florida. The sale is part of Mannington's strategic moves to secure its future in the flooring industry.
Why It's Important?
The sale of Burke Industries' non-flooring rubber business allows Mannington Mills to concentrate on its primary operations in the flooring sector, potentially enhancing its market position and operational efficiency. By divesting non-core assets, Mannington can allocate resources more effectively towards innovation and growth in flooring products. The transaction also provides Polycorp with an opportunity to expand its portfolio and capabilities in engineered elastomer solutions, which could lead to new product developments and market expansion.
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