MOHAWK is pleased to announce the agreement in principle to acquire IVC. The acquisition is likely to close in Q2 2015 and subject to regulatory approval from the authorities.
As we welcome IVC into the MOHAWK group, we believe that the synergy between the two strong companies will greatly contribute towards enhancing Mohawk’s capabilities in vinyl sheet, LVT and laminate floors.
MOHAWK is the parent company of UNILIN, based in Belgium.
IVC develops and manufactures vinyl floors in three state-of-the-art production units in Belgium, Luxembourg and USA. It is currently building the world’s largest LVT plant in the USA. The plant will start producing in Q3 2015.
IVC also includes the laminate activity Balterio and the MDF activity SPANOLUX.
This cooperation will catapult Mohawk into market leadership positions in Europe, USA and Russia in LVT and vinyl sheet and will expand its laminate flooring capabilities in Europe. It will further expand Mohawk’s strategy as the global flooring leader through the creation of new leadership positions in the vinyl sheet and LVT flooring categories.
In commenting on the acquisition, Jeffrey S. Lorberbaum, chairman and CEO of Mohawk Industries Inc, stated, “IVC is a vinyl flooring market leader in the USA and Europe focused on the residential markets. This acquisition represents an opportunity to expand our business into a category where we currently have a limited presence. In Europe, our emerging LVT business will be complemented by IVC’s manufacturing technology and market leadership. In the U.S., the IVC acquisition will complement our total flooring strategy and introduce new customer relationships for the vinyl product category.”