Dixie Group rises on preliminary deal for sale of flooring business

Dixie

30/06/2021 16:23

** Shares of floorcovering products maker  DXYN.O  rise
11.8% to an over 1-mth high of $2.94
    ** DXYN enters into an agreement in principle for the sale
of its AtlasMasland flooring  business to Mannington Mills Inc
[https://bit.ly/3hlpGEX
]
    ** Terms and conditions are to be finalized in the near
future- DXYN
    ** Says Mannington would buy the AtlasMasland business,
including certain tufting machines, other equipment and
inventories but would not purchase any facilities
    ** DXYN to continue to manufacture goods for Mannington
while it relocates the machines and equipment to its facilities
    ** Stock had risen 15.3% YTD, including session's gains

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))