The Mohawk segment grew 11 percent in sales with new residential construction and commercial channels continuing to out pace the residential replacement business. During the latter part of the quarter, company saw carpet purchases and shipments increase ahead of price increase. Price increases continue to lag the rapidly rising costs for energy and raw materials. Lower consumer confidence and the impact of the storms on gas and energy costs could influence spending in the future.
The acquisition of Unilin is scheduled to close in the fourth quarter of this year. As previously reported, company have determined to permanently finance the transaction with debt. Company is urrently evaluating the appropriate combination of prepayable and term debt. The acquisition is not expected to have a significant impact on the fourth quarter before any one-time non-cash purchase accounting charges.
Rugs manufacturing firm Mohawk is a leading supplier of flooring for both residential and commercial applications. Mohawk offers a complete selection of broadloom carpet, ceramic tile, laminate, wood, stone, vinyl, rugs and other home products. These products are marketed under the premier brands in the industry, which include Mohawk, Karastan, Ralph Lauren, Lees, Bigelow, Dal- Tile and American Olean. Mohawk's unique merchandising and marketing assist the customers in creating the consumers' dream. Mohawk provides a premium level of service with its own trucking fleet and over 250 local distribution locations.
marketing@alchempro.com
