April 2/9, 2018: Volume 33, Issue 21 By Ken Ryan Even seasoned flooring executives are stunned at the growth of the rigid core subsegment that burst onto the scene less than two years ago and has morphed into a super cell of flooring. Jimmy Tuley, vice president, residential resilient business, Mannington, just returned from Domotex Asia where he saw scores of new entries. “We saw combinations of wood on
Tag "IVC"
March 19/26, 2018: Volume 33, Issue 20 By Ken Ryan “Driving Performance Together in 2018” was the theme of Gilford-Johnson’s ninth annual Advantage Partners conference earlier this month. Judging by the robust turnout—100 flooring dealers, 19 vendors and 208 total attendees—the one-day meeting was a resounding success. “More people, more customers and a great deal of optimism and energy—probably our best one yet,” said Dennis Cook, president and CEO
July 31/Aug. 7: Volume 31, Issue 4 By Lindsay Baillie The resilient category continues to follow its blazing path from 2016 with aggressive growth just six months into 2017. Industry observers attribute this activity once again to the industry’s “darlings”—LVT, WPC and rigid core. Based on FCNews research, LVT and its subcategories accounted for 42.3% of residential volume and 67.6% of residential dollars in 2016. Observers expect numbers in 2017
Dalton—Gov. Nathan Deal today announced that Mohawk Industries, the world’s largest flooring manufacturer, will expand its existing vinyl flooring operations in Dalton-Whitfield County. This project will significantly increase the company’s current U.S. luxury vinyl tile (LVT) manufacturing capacity. The $100 million capital investment in infrastructure and equipment will generate approximately 200 jobs for the region. “Mohawk’s continued expansion in Georgia underscores how a premier flooring manufacturer helps Georgia’s entire floor
Dalton—IVC US has made distinct modifications to its executive leadership team in conjunction with the Mohawk Industries acquisition. Xavier Steyaert, co-CEO of IVC US, will be leaving the company after a decade of service. Steyaert has decided to pursue other personal and professional projects, and has agreed to remain on board through the end of Q1 2016. Steyaert was a founding member of IVC US when he moved to the
Dalton— Shnier will join IVC US’ network of distributors to service Western Canada, effective Jan. 4. Shnier will carry the full line of IVC US’ Flexitec fiberglass sheet vinyl collection. “Shnier’s mission of being a step ahead has created a culture of pride throughout their organization,” said Jim Chepalis, director of distribution and strategic accounts, IVC US. “Their innovative retail programs and outstanding logistics make Shnier a great partner.”
Calhoun, Ga. — Mohawk Industries has completed its acquisition of the IVC Group for $1.2 billion in cash and stock. IVC is a vinyl and laminate flooring manufacturer with 2014 revenues of approximately $735 million and manufacturing operations in Belgium, Luxembourg and the United States. LVT now represents about 5% of the U.S. flooring market, with sales projected to grow more than 15% annually through the end of the decade.
Calhoun, Ga.—Mohawk Industries has completed its acquisition of the IVC Group for $1.2 billion in cash and stock. IVC is a major vinyl and laminate flooring manufacturer with 2014 revenues of approximately $735 million and manufacturing operations in Belgium, Luxembourg and the U.S. The acquisition expands Mohawk’s position as the world’s largest flooring manufacturer and significantly increases Mohawk’s presence in the LVT and sheet vinyl categories. LVT now represents about
Dalton—Apollo Distributing has joined the IVC US network of distributors. Based in Fairfield, N.J., Apollo will carry a full line of IVC exclusive offerings including Flexitec, Blueprint and Next Level sheet vinyl collections, IVC’s Moduleo LVT collection, as well as Balterio laminate by IVC. “We are excited to partner with Apollo Distributing Company,” said Jim Chepalis, director of distribution and strategic accounts for IVC US. “With our continued aggressive growth plans
March 30/April 6, 2015; Volume 28/Number 20 By Ken Ryan Cincinnati—Paul Murfin, co-CEO of IVC US, was the headline speaker at the Gilford Flooring spring event where he addressed independent dealers about the rapid ascent of IVC, an ever-changing flooring landscape and how retailers can compete amid increased competition. Founded in 1997 as part of the Balta Group, IVC US “is still a teenager,” Murfin said, but a fast-growing one
January 19/26, 2015; Volume 28/Number 15 By Ken Ryan A number of major flooring companies have recently invested millions of dollars to onshore their LVT production to the U.S. as a way to control costs and accelerate speed to market. However, other large suppliers continue to import products, trusting in that business model because of long-standing factory alignments, manufacturing capacity and experience. FCNews spoke to suppliers on both sides to
Calhoun, Ga.—Mohawk Industries announced that the company has entered into a definitive agreement to acquire the IVC Group. The IVC Group is a major manufacturer of sheet vinyl, luxury vinyl tile (LVT) and laminate, with operations in Europe and the U.S. and sales of approximately $700 million. Mohawk will acquire IVC for approximately $1.2 billion through a combination of cash and equity. The transaction is expected to be complete around
December 8/15, 2014; Volume 28/Number 12 Resilient By Jenna Lippin To the dismay of many flooring executives, 2014 did not deliver the recovery numbers most of the industry thought it would. The so-called “pent-up demand” everyone cited in the anticipation of 2015 has yet to really show its face, mainly because of a slow start this year due to crippling winter weather. That being said, executives predict that 2015 is
August 4/11, 2014; Volume 28/Number 4 By Jenna Lippin Resilient flooring has been all the rage for nearly a decade now, and the category shows no signs of cooling down. After dollar growth of 8.5% in 2013 and 5.4% in 2012 (FCNews, June 30)—industry experts believe the category is up between 5% and 8% in 2014, this despite a very difficult first quarter and sluggish residential sheet vinyl segment. Much
Dalton — Ground has been broken and construction preparations are underway for IVC US’s brand new luxury vinyl tile and plank (LVT) manufacturing facility in Dalton—a projected $100 million investment into the local community, code named Project Stella 2. “We are very excited to partner with a local general contractor, Fox & Brindle Construction Co, and to have the support of the local community,” said Xavier Steyaert, Co-CEO, IVC US.
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