Under terms of a “definitive agreement,” Mohawk Industries will purchase Dal-Tile International in a transaction valued at approximately $1.663 billion, including the repayment of approximately $261.7 million in Dal-Tile's debt.
Jim McCallum, president of Lees Carpets, has gone on record stating that, despite the recent Chapter 11 filing of parent company Burlington Industries, his company will continue in a business-as-usual mode and maintain its current business strategy and organizational structure.
U.S. builders began construction on new homes in October at a faster pace than expected, according to a report recently released by the Commerce Department.
Burlington Industries Inc. and some of its U.S. subsidiaries recently filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
The Home Depot recently reported record net earnings of $778 million for the third quarter of fiscal 2001, an increase of 19.7% compared with net earnings of $650 million in the third quarter of fiscal 2000.
Formica Corp. announced its results for the third quarter that ended Sept. 30 and its extension of an existing waiver from its bank syndicate related to certain financial covenants under its $345 million credit facility.
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