CALHOUN, Ga., May 3, 2013 /PRNewswire/ -- Mohawk
Industries, Inc. (NYSE: MHK) announced today that it has completed
the acquisition of Spano Group, a Belgian panel board manufacturer.
The transaction was previously announced on January 28, 2013. The total value of the
acquisition was €125 million in cash. In 2012, Spano generated
estimated sales of €183 million.
In commenting on the closing, Jeffrey S.
Lorberbaum, Mohawk's Chairman and CEO, stated, "The
combination of Unilin and Spano will deliver greater value for our
customers and expand our product offering. Spano extends our
customer base into new channels of distribution and adds technical
expertise and product knowledge which we can leverage across the
segment. The significant synergies between Unilin and Spano create
opportunities to optimize manufacturing assets and processes, raw
materials and operational efficiencies. We look forward to
welcoming Spano's talented team into the Company."
Certain of the statements in the immediately preceding
paragraphs, particularly anticipating future performance, business
prospects, growth and operating strategies and similar matters and
those that include the words "could," "should," "believes,"
"anticipates," "expects," and "estimates," or similar expressions
constitute "forward-looking statements." For those statements,
Mohawk claims the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995. There can be no assurance that the
forward-looking statements will be accurate because they are based
on many assumptions, which involve risks and uncertainties. The
following important factors could cause future results to differ:
changes in economic or industry conditions; competition; inflation
in raw material prices and other input costs; energy costs and
supply; timing and level of capital expenditures; timing and
implementation of price increases for the Company's products;
impairment charges; integration of acquisitions; international
operations; introduction of new products; rationalization of
operations; tax, product and other claims; litigation; and other
risks identified in Mohawk's SEC reports and public
announcements.
ABOUT MOHAWK
Mohawk Industries is a leading global flooring manufacturer that
creates products to enhance residential and commercial spaces
around the world. Mohawk's vertically integrated manufacturing and
distribution processes provide competitive advantages in the
production of carpet, rugs, ceramic tile, laminate, wood, stone and
vinyl flooring. Our industry-leading innovation has yielded
products and technologies that differentiate our brands in the
marketplace and satisfy all remodeling and new construction
requirements. Our brands are among the most recognized in the
industry and include American Olean, Bigelow, Daltile, Durkan,
Karastan, Lees, Marazzi, Mohawk, Pergo, Unilin and Quick-Step.
During the past decade, Mohawk has transformed its business from an
American carpet manufacturer into the world's largest flooring
company with operations in Australia, Brazil, Canada, China, Europe, India, Malaysia, Mexico, Russia and the
United States.
SOURCE Mohawk Industries, Inc.