Forbo sells textile unit to focus on flooring, adhesives and belts
Linoleum flooring manufacturer Forbo Holding AG has it agreed to sell its coated textile business to closely held Ferrari Group of France so that the company can better focus on its core products.
The purchase price of the business unit was not disclosed. Forbo, which had been looking for a buyer for the unit to slim down its business, said it aims to focus on its linoleum, vinyl flooring, machine belts, and adhesives businesses.