Mohawk Industries completed the acquisition of the VVitromex ceramic tile business from Grupo Industrial Saltillo for $293m.

Mohawk Industries, a global flooring manufacturer, completed the acquisition of the VVitromex ceramic tile business from Grupo Industrial Saltillo, a manufacturer and market products provider for the industries of Auto parts, for $293m. “In the past decade, we have significantly increased our participation in the Mexican ceramic tile market, including developing a world-class organization and constructing a state-of-the-art facility in Salamanca. Ceramic tile is the primary flooring utilized in Mexico, and the market has grown approximately eleven percent in pesos per year over the past five years. Combined with Vitromex, we will offer our customers a complete array of residential and commercial products at all price points with enhanced service capabilities. Vitromex is one of the most highly regarded brands in the Mexican market and is recognized as a leader in innovation and design. We are pleased to welcome their talented team into the Mohawk global ceramic business. We will provide additional commentary on the Vitromex acquisition during our second quarter investor call,” Jeffrey S. Lorberbaum, Mohawk Chairman and CEO.