Armstrong DLW AG
Armstrong DLW AG
Ad hoc announcement §15 WpHG
Armstrong DLW AG
Ad hoc announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Bietigheim-Bissingen, Germany – Armstrong DLW AG (“ADLW”) announced
today that Armstrong Holdings, Inc. (“Armstrong”), its ultimate U.S. parent
company, reported yesterday that it recorded a $48.4 million non-cash
charge under U.S. GAAP against goodwill in its fourth quarter of 2004
attributable to Armstrong’s resilient flooring business in Europe, of which
Armstrong DLW AG is the major part. The goodwill was recorded in
conjunction with Armstrong’s 1998 acquisition of ADLW, Armstrong also
recorded a charge under U.S. GAAP of $44.8 million relating to the
impairment of the value of ADLW’s land and facilities used in European
resilient flooring operations.
Armstrong made the non-cash charges in compliance with United States
accounting principles which require that significant tangible and intangible
assets be reviewed on a regular basis for impairment. Armstrong’s
discussion of these charges can be found in Notes 10 and 12 to its 2004
consolidated financial statements filed with the U.S. Securities and
Exchange Commission in its 2004 annual report on Form 10-K, which was
filed yesterday.
These charges do not impact the financial statements of ADLW under
German Generally Accepted Accounting Principles (HGB), or affect the cash
flow of either Armstrong or ADLW.
Date: March 31, 2005
Time: 9 a.m.
David Randich
Armstrong DLW AG
Stuttgarter Straße 75
74321 Bietigheim-Bissingen
Deutschland
ISIN: DE0005518005
WKN: 551800
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (General
Standard), Hamburg, Hannover, München und Stuttgart
End of ad hoc announcement (c)DGAP 31.03.2005
311007 Mär 05
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