The National Association of Realtors has revised U.S. January existing home sales data sharply higher, saying sales rose 3.8% in the month to a 5.13 million unit annual rate. The realtors' group originally said sales of previously owned homes fell 6.6% in January to a 4.65 million unit rate.
The Dow Chemical Co. and Reichhold Inc. plan to form a joint venture, Dow Reichhold Specialty Latex LLC, by combining the specialty latex businesses of Dow's Emulsion Polymers unit and Reichhold.
The Elcor Corp. board of directors has elected fellow director Thomas D. Karol as president and chief executive officer, to succeed Harold K. Work, effective March 26.
Interface Inc. said that for the fourth quarter of 2000, the company reported net income of $9.9 million, or 19 cents per diluted share (before non-recurring restructuring charges), which represents an increase of 56% compared with net income of $6.4 million, or 12 per diluted share, in the same period a year ago.
Spending on U.S. construction projects increased for the third straight month in January to record levels, driven by strong gains in single-family homes and industrial construction, the government reported.
Flexible polyurethane and polymer foam products manufacturer Foamex International Inc. reported that, despite slightly lower sales and profits for fiscal year 2000, the company remains on track with its debt-reduction initiatives.
Distribution of the company’s Retailer of the Year awards, and attainment of a new membership level that allows for double rebates, topped the agenda at Color Tile’s annual membership meeting held during Surfaces 2001 in Las Vegas.
New-homes sales plummeted by 10.9% in January, the biggest drop in seven years, as Americans' worries about the nation's economy overwhelmed the attraction of cheaper mortgage rates.
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