Mohawk CEO Lorberbaum Discusses Firm's Growth
Chattanooga, TN, Nov. 7, 2014 -- Mohawk Industries CEO Jeff Lorberbaum told the Chattanooga Rotary Club that his firm is investing $500 million in its existing businesses in a bet on an improving economy.
“The economy is doing better,” he said in Chattanooga. “It just hadn’t rebounded as fast or as much as what we all had thought. Next year, we’re hoping it will be better than this year.”
Among the investments will be a U.S. LVT plant at an unidentified location as the demand for that product category continues to grow. The company is also building an LVT plant in Belgium as it continues an aggressive growth strategy.
Virtually all of the company's recent significant investments, including acquisitions of Marazzi and Pergo, have been on the hard surface side of the business.
Mohawk, which began as a U.S. carpet commpany, now has a product mix of 40% carpet and rugs.
Now nearly a third of its business is international.
Related Topics:Mohawk Industries, Marazzi USA