Industry Rebound is Top Story of 2013

Chattanooga, TN, Dec. 31, 2013 -- Broadly speaking, our biggest story of 2013 is the flooring industry began a sustained turnaround, with roughly $1 billion in investments/expansion plans, much of it in North Georgia, touching every flooring category. However, most of the plans were in the carpet arena, and much of that focused on polyester.

1. Mohawk Industries was aggressive in 2013, acquiring tile maker Marazzi, closing the acquisition of laminate maker Pergo, and acquiring board maker Spano InvestNV. It also announced several expansion projects.
2. Engineered Floors announced a $450 million expansion in North Georgia.
3. The LVT category will continue to broaden its marketshare as Armstrong, Mannington, Mohawk and IVC all said they are ramping up production in the U.S. Also, carpet maker Beaulieu also began selling LVT.
4. Carpet tile also continued to take share. Shaw opened a plant in China, broke ground on a second tile plant in Adairsville, Georgia, and Interface rebuilt its plant in Australia.
5. The housing market rebounded, with sales of existing homes and new homes up sharply over 2012, as well as house prices.
6. Production in the U.S. became attractive to foreign firms. A few of the companies announcing expansion plans in the U.S. included Dubai backing firm Mattex, JN Fibers, a Chinese maker of recycled polyester fiber products, German dry mortar firm Uzin-Utz AG, and Chinese hardwood flooring company Zeyuan Flooring.
7. There was plenty of executive movement this year. Bentley Prince Street CEO Anthony Minte retired after 21 years and was replaced by Ralph Grogan. Beaulieu CEO Ralph Boe said he will retire in February after a transition period. Armstrong Flooring Products CEO Frank Ready retired and was replaced by Thomas Mangas. Don Finkell, who led Anderson Hardwood for more than three decades, also retired but is still very active in the industry. Scott Humphrey moved from Shaw Industries to become CEO of the World Floor Covering Association. Thomas Trissl, founder of Centiva, began a new company and promptly purchased subfloor company HPS North America. Bob Weiner, who had a long history with carpet firms Prince Street and Constantine, began Totally Enterprises LLC and Totally Carpet, to focus on the corporate carpet market.
8. There were troubles for Lumber Liquidators. The company's offices were searched by federal authorities, who suspected the company may have violated the Lacey Act by having some of its products made with illegally harvested wood abroad. The firm was also accused by an online investment site of having illegal levels of formaldehyde in some of its products. As a result of these problems, a number of class action suits have been filed against the company.



Other Archived Articles

Barclay's Reiterates 'Overweight' Rating on Mohawk   Full Article
New York, NY, Aug. 6, 2014 -- Barclays has reissued an overweight rating on shares of Mohawk Industries.

Small Increases in Price Hurt New Home Market   Full Article
Washington, DC, Aug. 6, 2014 -- Each $1,000 increase in the cost of a new median-priced home price forces 206,000 prospective buyers out of the marketplace, according to a new study by the National Association of Home Builders.

Leonardo Academy Moves to New Office   Full Article
Madison, WI, August 6, 2014 -- Leonardo Academy's Madison, Wisconsin office has moved to a new location at 8401 Excelsior Drive.

Mortgage Application Volume Rises on Refinancing   Full Article
Washington, DC, Aug. 6, 2014 -- Mortgage application volume rose last week as refinancing applications increased, according to the Mortgage Bankers Association.

Tarkett Hosts Braungart at NeoCon Event   Full Article
Chagrin Falls, OH, Aug. 6, 2014 -- Tarkett hosted Michael Braungart, scientific director and founder of the Environmental Protection & Encouragement Agency for a seminar during NeoCon.

Flooring Firm Fire Ruled Spontaneous Combustion   Full Article
Chesterfield County, VA, Aug. 5, 2014 -- A July fire at Better Floors has been ruled a "spontaneous combustion" incident by investigators.

Factory Orders Spike in June   Full Article
Washington, DC, Aug. 5, 2014 -- Factory orders surged in June by 1.1%, the Commerce Department said.

Services Sector Growth Fastest in Nine Years   Full Article
Tempe AZ, Aug. 5, 2014 -- The services sector of the economy grew in July at the fastest pace in nine years, according to the Institute for Supply Management.

Kansas City Interiors Icon Bernie Madden Dies   Full Article
Leawood, KS, Aug. 5, 2014 -- William Bernard "Bernie" Madden, owner of Madden McFarland Interiors died Aug. 1.

Flooring America's Rebranded Meeting Underway   Full Article
Dallas, TX, Aug. 5, 2014 -- Flooring America/Flooring Canada, a division of CCA Global Partners, has kicked-off conneXtion, its newly branded bi-annual meeting that connects its more than 500 independent floor covering retailers.

Mullican Flooring in Two 'Flipping Boston' Episodes   Full Article
Johnson City, TN, Aug. 5, 2014 -- Mullican Flooring has provided hardwood flooring for two additional episodes of “Flipping Boston,” a television series on the A&E channel.

Latricrete Acquires Resinous Flooring Firm Spartacote   Full Article
Bethany, CT, Aug. 5, 2014 -- Laticrete International said it has acquired HP Spartacote.

J+J Symposium Focuses on Senior Design Trends   Full Article
Dalton, GA, Aug. 4, 2014 -- J+J Flooring Group recently hosted the first in a series of senior living design symposiums in which experts discussed the driving trends.

Florida Tile Opens Showroom in Boise   Full Article
Boise, ID, Aug. 4, 2014 -- Florida Tile has opened its second tile and stone showroom in four months, this one in Boise on July 15.

GBCI, Bureau Veritas Form Partnership   Full Article
Washington, DC, Aug. 4, 2014 -- The Green Building Certification Institute and Bureau Veritas SA have announced a strategic business partnership.

Berkshire Hathaway Reports Decline in Shaw's Earnings   Full Article
Omaha, NE, Aug. 4, 2014 -- Shaw Industries recorded a pre-tax earnings decline for the second quarter due to lower margins, according to parent company Berkshire Hathaway's quarterly report.

Manufacturing Expands at Faster Pace   Full Article
Tempe, AZ, Aug. 1, 2014 -- U.S. manufacturing expanded at its fastest rate since April 2011, according to the Institute for Supply Management.

Personal Spending, Income Rise in June   Full Article
Washington, DC, Aug. 1, 2014 -- Consumer spending increased modestly in June, according to Commerce Department statistics.

Construction Spending Falls on Commercial Weakness   Full Article
Washington, DC, Aug. 1, 2014 -- Construction spending fell by 1.8% in June, mostly due to lower spending on commercial projects, according to the Commerce Department.

Consumer Sentiment Ticks Down in July   Full Article
Ann Arbor, MI, Aug. 1, 2014 -- The Thomson Reuters/University of Michigan final reading of consumer sentiment for July edged down to 81.8 from 82.5 in June.