Building products» More news on Building products

Shaw Industries wants to be sole own of US Floors

07.11.2016 − 

US-American Shaw Industries wants to acquire US Floors that specialises in cork and WPC flooring. In a statement released on 18 October, the firm said that it had signed a definitive agreement with US Floors’ current shareholders. The transaction should thus close before the end of the fourth quarter after customary closing conditions and regulatory approvals. Shaw hopes that the transaction will expand its foothold in the LVT and WPC flooring business.

Over the past two years, the company invested in its own LVT production plant in Ringgold, Georgia which has been gradually ramping up output since commissioning. This technology had been installed in a facility previously used to make area rugs starting in the middle of 2014. Shaw put the investment in this project at about USD100m when it started. Having its own LVT manufacturing facility is to partly replace LVT imports from Asia, which commenced in 2011. Shaw then entered the WPC flooring business in the middle of 2014 by importing these products from China.

Tags of this news:

previous − Lumber Liquidators: Turnover shows slight growth

Tarkett: Business dynamic decreases in third quarter  − next