CALHOUN, Ga., May 3, 2013 /CNW/ - 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.