By: Andrew Carter (WRGA News)
Another feather in the hat for an area manufacturer as they announce their latest acquisition of a major European company.
According to a news release, Calhoun-based Mohawk Industries has entered into an agreement to purchase Spano Invest NV, a Belgian manufacturer that specializes in producing panel board.
The deal, announced Monday, was worth an estimated $168 million. The transaction should close in the second half of this year, according to company officials. Spano is a leading manufacturer and distributer of chip and melamine board, used in furniture making and building products in the Low Countries of Western Europe.
This is Mohawk’s third major acquisition of a European company in four months, following purchases of Pergo Industries and Unilin back in October 2012.
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