Mohawk Acquires Unilin; Partners With DuPont
Casual Living Staff -- Casual Living, December 5, 2005
Mohawk Industries, Inc. has completed the acquisition of Unilin Holding NV, a manufacturer and marketer of laminate flooring products based in Belgium.
Commenting on the acquisition, Jeffrey Lorberbaum, chairman and CEO of Mohawk, stated, “With the acquisition of Unilin, Mohawk has strengthened its market position as a total flooring company.”
For 2004, Unilin had sales in U.S. GAAP of approximately $988 million, operating income after including other income of $238.7 million and depreciation and amortization of $54.1 million. The total value of the acquisition, net of cash, is approximately $2.6 billion and is being financed with debt.
In other Mohawk news, the company has entered into an exclusive partnership with DuPont to provide a new line of residential carpet to the flooring industry.
Under the terms of this agreement, DuPont will provide its newest polymer technology to Mohawk which will manufacture and market it under the brand SmartStrand with DuPont Sorona polymer. Terms of the agreement were not disclosed.
Lorberbaum said: “This product adds a new dimension to fiber technology. Our confidence in this product is evidenced by Mohawk's Limited Lifetime Warranty offer for stain resistance.”