Mohawk Industries Inc, a U.S. ceramic tile maker, said it would purchase Italy's Marazzi Group for about $1.5 billion to boost its position in the United States, Russia and Europe. Ceramics maker Marazzi had revenue of about $1.16 billion in 2011, Mohawk said in a statement on Thursday.
Mohawk Industries, Inc. (Mohawk) is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe. Shares of MHK traded higher by 3.29% or $2.77/share to $87.04. In the past year, the shares have traded as low as $57.16 and as high as $89.28. On average, 519305 shares of MHK exchange hands on a given day and today's volume is recorded at 885653.
Source
