LaGrange, Ga. -- Following approval by the Multilayer Flooring Association (MFA), and the Resilient Floor Covering Institute (RFCI) boards of directors, Harlan Stone, MFA president, and Dean Thompson RFCI president and CEO, signed an Asset Transfer Agreement, a legal document designed to combine the two organizations under the RFCI umbrella.
This industry initiative began in April of 2018 with a Memorandum of Understanding between MFA and RFCI. The MOU set the stage for MFA and RFCI legal counsels to undertake appropriate diligence and other work to facilitate the joining of the two organizations.
The multilayer flooring category, now referred to as rigid core luxury vinyl tile, is realizing significant market growth based on its exceptional value proposition and has quickly become a mainstream resilient flooring category. The organizational services required to support this unprecedented growth exceed the scope of MFA and hence, the need to combine MFA with RFCI. Nearly all of the MFA members are now members of RFCI which makes for an easy transition.
RFCI is a long-standing and successful resilient flooring industry trade organization that now represents all categories of resilient flooring including sheet vinyl, flexible luxury vinyl tile, rigid core luxury vinyl tile, rubber sheet and tile, vinyl composition tile, linoleum, and cork flooring. Due largely to substantial growth in both rigid and flexible LVT products, the resilient category has grown from an estimated 12.2% ($2.4 billion) of the overall flooring market of $17.1 billion in 2009 to 20.5% ($5.6 billion) of the $27.1 billion total flooring market in 2018. Over 95% of all resilient flooring manufactured and/or marketed throughout North America is represented by the 20 RFCI manufacturing members.
“I applaud the MFA and its leadership for their vision regarding this exciting category, and the work they accomplished in a short period of time is very admirable. RFCI is fully prepared to provide the necessary support to advance the MFA vision,” said Thompson.
Stone added, "I have been working with the leadership of the RFCI for more than a decade, and now have an opportunity to collaborate more closely with Dean Thompson and the RFCI Board. We are confident this combined effort will advance the goals as set out in the original MFA Charter. Together, we will have a stronger, louder, and more impactful Resilient Floorcovering Industry association.”
For more information, visit rfci.com.