Tranche Update on Mohawk Industries, Inc.'s Equity Buyback Plan announced on October 29, 2020.
July 30, 2021 at 01:03 pm EDT
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From April 4, 2021 to July 3, 2021, the company has repurchased 700,000 shares, representing 1% for $145.67 million. With this, the company has completed the repurchase of 1,873,770 shares, representing 2.67% for $331.96 million under the buyback announced on October 29, 2020.
Mohawk Industries, Inc. specializes in manufacturing and marketing ground coating products. The group's products are sold under the Mohawk, Aladdin, American Olean, Bigelow, Century Flooring, Columbia Flooring, Dal-Tile, Durkan, Horizon, Karastan, Lees, Merit, PureBond, Quick-Step, Uniclic, Unilin brands, etc. Net sales break down by family of products as follows:
- carpets and rugs (38.3%);
- tile products (35.2%): ceramic, porcelain, marble and natural stone tiles;
- floors (16.5%): solid wood flooring, laminate flooring and vinyl flooring;
- other (10%).
At the end of 2021, the group had 69 production sites worldwide.
Net sales break down geographically as follows: the United States (55.2%), Europe (27.8%), Russia (4%) and other (13%).