Mohawk Acquires Belgian Panel Manufacturer Spano

By Bill Esler | Posted: 01/28/2013 7:27PM

 

SpanoGroup melamine and chipboard factorySpanoGroup is an integrated group of companies producing particleboard, MDF board, melamine faced board and laminate flooring. This is one of its Belgian factories. CALHOUN, GA - Flooring giant Mohawk Industries, Inc. (NYSE: MHK) said today it would purchase chip board and melamine panel manufacturer Spano Invest NV, based in Belgium, for $168 million in cash.

Spano's 2012 revenues were €180 million ($231 million). Mohawk said the buy would close the second half of the years, and it expects an earnings gain in 2013 from the acquisition.

Spano-produced chip board and melamine board are used to produce furniture and building products mostly for the Belgian market. Spano introduced the first continuous press operations for chipboard manufacture in 1977, significantly increasing its capacity.

In addition to panel production, Spano operates facilities in Belgium and has an electricity plant joint venture that converts waste wood into green energy.

Mohawk, which also produced carpeting and tile, just last week closed on the acquisition of plywood manufacturer Sweden's Pergo, including its Garner, NC-based U.S. business, from Germany's Pfleiderer for $150 million in cash.  Mohawk acquired another Belgian panel producer -  Unilin - in 2005.

Mohawk CEO Jeffrey Lorberbaum, said the combination of Unilin and Spano will create significant synergies

"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," Lorberbaum said.

 

About the Author

Bill Esler woodworkingnetwork.com

Bill Esler

Bill Esler, Associate Publisher/ Editor in Chief, Woodworking Network Bill is responsible for editing Custom Woodworking Business and coordinating content for Wood Products , CLOSETS , WoodworkingNetwork.com, and related newsletters. Bill’s expertise includes using innovative print manufacturing techniques to grow audience engagement, digital printing, purls, QR codes; and lead-generating webcasts, custom websites, and custom digital and print content. Read Bill Esler's woodworking blogs. He can be reached at besler@woodworkingnetwork.com or follow him on Google+.

Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left

 

Search our database for woodworking equipment, supplies and services:

Select a category:


Feedback Form
Leads to Insight