American Biltrite Inc. has reported that it plans to sell or otherwise dispose of
its Janus pre-finished hardwood flooring business and will record a charge
to second quarter earnings in connection with the planned disposition.
American Biltrite's second quarter results will include $8.5 million in non-cash charges reducing the carrying values of fixed assets, inventories, deferred tax assets, and other current assets to amounts expected to be realized through the disposition. The company expects these charges will
represent the substantial majority of the expenses to exit this business.