LANCASTER, Pa.,
June 21, 2017
/PRNewswire/ -- Armstrong World Industries
(NYSE: AWI) and Worthington Industries (NYSE: WOR) are celebrating
the 25th year of the
Worthington Armstrong Venture (WAVE). For a quarter century,
WAVE has designed and manufactured the most innovative commercial
suspended ceiling and drywall grid systems and accessories on the
market, resulting in sustained and unmatched venture success for
both parents.
Worthington Chairman and CEO John
McConnell said, "Both Worthington and AWI are proud of this
joint venture and what it has become. It all began when we brought
the best of our two companies together to create a model joint
venture in countless ways, including an outstanding safety record.
We look forward to its continued prosperity for years to come and
we thank all WAVE employees for their dedication and
commitment."
AWI CEO Vic Grizzle said,
"The WAVE story is truly remarkable. Twenty-five years ago it
was founded on little more than a handshake and the good will and
commitment of some very passionate leaders who had the ingenuity to
leverage Worthington's steel
sourcing and metals manufacturing capabilities and the Armstrong
brand, distribution network and sales team. That simple,
breakthrough idea has proven to be incredibly powerful and
profitable. We salute the WAVE team and wish them another
25 years of continued
success."
With a focus on providing customers with total ceiling
solutions that save time and money, WAVE's most recent innovations
include LED lighting integration solutions; pre-engineered drywall
ceiling suspension systems that are up to four times faster to
install than traditional track and channel framing; and extruded
aluminum perimeters, transitions, and trims for use with suspended
panels or drywall to seamlessly finish a room.
About WAVE
Headquartered in Malvern,
Pa. and founded in 1992, WAVE, a joint venture between
Armstrong World Industries and Worthington Industries, has grown to
become the global leader in commercial and residential ceiling
suspension systems with market-leading positions everywhere it does
business. WAVE has over 600 employees and a global
manufacturing network of nine facilities in China, France, India, the United
Kingdom and the United States.
About Armstrong World Industries
Armstrong World Industries, Inc. is a global leader in the
design and manufacture of innovative commercial and residential
ceiling, wall and suspension system solutions. With over
3,800 employees and fiscal 2016 revenues from ceiling operations in
excess of $1.2 billion, AWI operates
from a global manufacturing network of 26 facilities, including
nine plants dedicated to its WAVE joint venture.
About Worthington Industries
Worthington Industries is a leading global diversified
metals manufacturing company with 2016 fiscal year sales of
$2.8 billion. Headquartered in
Columbus, Ohio, Worthington is North
America's premier value-added steel processor providing
customers with wide ranging capabilities, products and services for
a variety of markets including automotive, construction and
agriculture; a global leader in manufacturing pressure cylinders
for industrial gas and cryogenic applications, CNG and LNG storage,
Cryogenic transportation and storage and alternative fuel tanks,
oil and gas equipment, and consumer products for camping, grilling,
hand torch solutions and helium balloon kits; and a manufacturer of
operator cabs for heavy mobile industrial equipment; laser welded
blanks for light weighting applications; automotive racking
solutions; and through joint ventures, complete ceiling grid
solutions; automotive tooling and stampings; and steel framing for
commercial construction. Worthington employs approximately 11,000
people and operates 84 facilities in 11 countries.
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.
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SOURCE Armstrong World Industries