published Saturday, May 4th, 2013

Mohawk completes Spano purchase

  • photo
    Melissa Kernea prepares to pick up a load of yarn off of a conveyor belt at Mohawk Industries, Inc. in Dalton, Ga., in this file photo.
    Photo by Staff File Photo /Chattanooga Times Free Press.

Mohawk Industries Inc. completed its purchase Friday of the Spano Group, a Belgian panel board manufacturer, for $164 million, or 125 million euros.

Spano makes chip and melamine board, which are used in the building products and furniture industries. The Belgium company generates annual sales of $240 million, or 183 million euros.

Mohawk CEO Jeffrey S. Lorberbaum said the acquisition continues Mohawk’s expansion into other lines of floorcovering and building materials. Mohawk bought the European laminate floor manufacturer Unilin Holdings NV last fall for $988 million.

“Spano extends our customer base into new channels of distribution and adds technical expertise and product knowledge which we can leverage across the segment,” Lorberbaum said in a statement. “The significant synergies between Unilin and Spano create opportunities to optimize manufacturing assets and processes, raw materials and operational efficiencies.”

about Staff Report...

Get breaking news from the Times Free Press on Twitter at www.twitter.com/timesfreepress or by visiting us on Facebook or Twitter at the right:

Other National Articles

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.