This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Desso Enters US Market Through New Agreement With The Dixie Group

Stocks in this article: DXYN

WAALWIJK, The Netherlands, February 10, 2014 /PRNewswire/ --

Desso, the global carpets, carpet tiles and sports pitches company announced that it has signed a letter of intent to enter into a joint venture with Masland Contract, a division of The Dixie Group, Inc. (NASDAQ: DXYN), a US floor coverings company. The intent is to build a comprehensive floor covering offering for the Hospitality market in the United States and international distribution. 

Having signed the letter of intent, the parties anticipate working quickly to develop a mutually acceptable Joint Venture structure designed to accomplish their goals. Using nearly 250 years of combined manufacturing excellence, both companies will be able to provide more value in the marketplace with complementary product lines to supply a complete offering to any brand-conscious Hospitality environment.

In addition, the two companies announced that they will enter into a sales and distribution agreement permitting Masland Contract, a division of The Dixie Group, to be the exclusive distributor of some of Desso's high performance carpet tile products. This will allow Desso to gain wider distribution for its Cradle to Cradle product offering through Masland Contract, which offers highly designed products for the commercial carpet market and that has an extensive sales network in the US and Canada.

A recognised leader in colour and design from the start, Masland Contract has become a preferred supplier for the architectural and design communities. It offers high style broadloom, modular and area rug products for corporate, hospitality, retail, education, government, and various other segments.

Today, The Dixie Group is one of the fastest growing companies in the US carpet market. Similarly, Desso has continued to perform well based on its commitment to customer service, design, functionality and Cradle to Cradle. Desso's European market share in commercial carpets -its largest business division and where it applied Cradle to Cradle principles first - has grown strongly between 2007 and 2013 [1].

--------------------------------------------------

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.80 -0.14 -0.00%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs