During 2016, investments in Europe and North America are set to double Moduleo parent company, IVC’s worldwide luxury vinyl tile (LVT) production capacity, add new product capabilities, and reinforce the company’s leadership position in this key product category.
In 2015, Mohawk’s acquisition of IVC positioned the company at the forefront of the vinyl categories. The acquisition strengthened the company’s manufacturing capabilities in North America and Europe, with one of the world’s largest, most efficient LVT production lines in Dalton, Georgia, U.S.A. In 2016, Mohawk is investing again through IVC on both continents to expand capacity in LVT products.
Jan Vergote, president of IVC Group, comments: “We are quickly becoming the world’s leader in the fastest growing flooring category. We are building upon the advantages we obtained with last year’s IVC acquisition, and during the next two years, we will significantly invest to expand our capacity to meet the increased demand for our industry-leading LVT products.”
To support the increased consumer demand for LVT, IVC is investing in two new state-of-the-art facilities - one to extend the company’s leadership in the European market, and one to support the North American market growth. These new facilities will include unique capabilities to manufacture LVT products for residential and commercial applications.
IVC will invest about $200 million in these facilities during 2016 and 2017, with production expected to kick-start during the second half of 2017.
Jan continues: “Our current LVT facilities in Europe and the U.S. are performing well. We realise, however, that customers will expect more from us as an industry leader, including innovations in design and performance, and the ability to keep their shelves stocked as consumer demand continues to grow.”
“The combination of Mohawk and IVC has benefited both businesses. We are producing exceptional new LVT collections with realistic visuals, deeply textured surfaces and exceptional durability, which we think consumers are going to love.
“We are excited by the global growth potential of LVT, and our leadership position in the category is reflected by the exceptional new products we are introducing at this year’s leading trade shows, as well as by the major investment in our manufacturing capacity.
“With these new facilities, we can grow our production to meet demand and continue to exceed customer expectations.”