ICS Magazine

Mohawk Sees 2003 Capital Spending Of $120M-$140M

February 25, 2003
WASHINGTON (Dow Jones)--Mohawk Industries Inc. said it sees capital spending of $120 million to $140 million for 2003, according to the company's annual report filed Tuesday with the Securities and Exchange Commission.

The filing said the capital spending for 2003 excludes acquisitions. For 2002, capital expenditures were $111.9 million, excluding the acquisition of subsidiary Dal-Tile International Inc.

The expenditures in 2002 were for modernizing and expanding manufacturing facilities and equipment, the filing said.

Mohawk Industries, which makes broadloom carpet and rugs, said its capital projects are focused on increasing capacity, improving productivity and reducing costs.

Over the past three years, capital expenditures have totaled $992.8 million, including $754.5 million for acquisitions, the filing said. Mohawk Industries is based in Calhoun, Ga.