Mohawk Industries, Inc. Announces Acquisition Of Spano Group

CALHOUN, Ga., Jan. 28, 2013 /CNW/ - Mohawk Industries, Inc. (NYSE: MHK) 
announced today that it has entered into an agreement to purchase Spano Invest 
NV ("Spano"), a Belgian panel board manufacturer, for €125 million ($168 
million) in cash. Spano's 2012 revenues are estimated at approximately €180 
million ($231 million). The business is expected to be slightly accretive in 
the first full year. This transaction is expected to close in the second half 
of 2013 and is subject to customary governmental approvals and closing 
conditions. 
Spano manufactures and distributes chip and melamine board, which are used to 
produce furniture and building products primarily in the Belgian market. Spano 
became a leader in the chipboard industry in 1977 when it introduced the first 
continuous press operations, significantly increasing its production capacity. 
Today, Spano operates facilities in Belgium and has an electricity plant joint 
venture that converts waste wood into green energy. 
In commenting on the acquisition, Jeffrey S. Lorberbaum, Mohawk's Chairman and 
CEO, stated, "The combination of Unilin and Spano will create significant 
synergies to bring greater value to our customers and broaden our product 
offering. Spano expands not only our customer base with a focus on different 
channels of distribution, but also our knowledge and technical expertise, 
which we can leverage. Together, there are many opportunities to optimize 
manufacturing assets, raw materials, and production efficiencies. We look 
forward to bringing Spano's talented team into the Unilin family." 
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 is a leading supplier of flooring for both residential and commercial 
applications.  Mohawk provides a complete selection for all markets of carpet, 
ceramic tile, laminate, wood, stone, vinyl and rugs. These products are 
marketed under the premier brands in the industry including Mohawk, Karastan, 
Lees, Bigelow, Durkan, Mohawk Home, Daltile, American Olean, Unilin and 
Quick-Step.  Mohawk's international presence includes operations in Australia, 
Brazil, China, Europe, Malaysia, Mexico and Russia. 
Frank H. Boykin, Chief Financial Officer, +1-706-624-2695 
http://www.mohawkind.com 
SOURCE: Mohawk Industries, Inc. 
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CO: Mohawk Industries, Inc.
ST: Georgia
NI: CST TEX MNA  
-0- Jan/28/2013 12:01 GMT
 
 
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