Knauf Deal for Armstrong Assets Wins Conditional EU Approval

The European Commission approved the acquisition by Knauf of Armstrong World Industries’ ceilings business outside the Americas, subject to a number of conditions.

The EU regulator, in an emailed statement, said remedies include divestment of Armstrong’s plants for production of mineral fiber tiles and the grids located in Team Valley, U.K.

Remedies also include the transfer of Armstrong’s sales teams and customer base in each of the countries where the commission raised preliminary concerns — Austria, Lithuania, Spain and the U.K. — and in additional countries to ensure the viability and competitiveness of the divestment business, the EU says.

©2018 ...