Forbo sells coated textile business to focus on linoleum, vinyl floors, adhesives and machine belts
EGLISAU, Switzerland -- Forbo Holding AG, a manufacturer of linoleum flooring, said it agreed to sell its coated textile business to closely held Ferrari Group of France to focus on its main products.
Forbo didn't disclose how much it will get for selling the unit to the French manufacturer of coated textiles. Forbo, which had been looking for a buyer for the unit to slim down its business, will sell it Dec. 29. The company, which earlier sold its decorative films unit, aims to focus on its linoleum, vinyl flooring, machine belts and adhesives businesses.