Mohawk acquires wood flooring assets

Calhoun,Ga.– Floor coverings manufacturerMohawk Industries has entered into an asset purchase agreement with Columbia Forest Products for wood flooring plants and working capital.

 

The assets include two pre-finished solid plants and one engineered wood plant in the United States and an engineered wood plant in Malaysia . The plants currently generate approximately $180 million in annual sales and have been Mohawk's largest supplier of wood, the company said.

 

Mohawk said the plants have been losing money for Columbia , but that will turn around once they are integrated into Mohawk’s operations. The transaction is expected to close in the third quarter this year.

 

Mohawk chairman and ceo Jeffrey Lorberbaum said, "These are excellent assets which are operating at about half their potential capacity. Over the next two years we will invest some additional capital to achieve a low-cost position in the market. We will continue to support theColumbiabrands sold through independent distributors and enhance the product portfolio.”

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!