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Carpet firm set to triple share
By Richard Fu |
June 27, 2012, Wednesday
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Print Edition
Print Edition
SHAW Industries, the world's largest carpet maker, said it aims to triple its market share in China in five years from under 5 percent now by building its first plant outside the United States.
More than US$40 million will be invested into its first plant in Nantong, Jiangsu Province, which will make carpets for the Asian market where corporate clients have to wait six to 12 weeks for products to be shipped from the US, Jeff Galloway, director of global operations, said yesterday at a ceremony.
The new plant, set to open in one year, will produce over 1 million square meters of carpet tiles in the first year of operation and make 5 million square meters annually.
China now accounts for a "small number" of the Georgia-based firm's US$4 billion annual sales, Galloway said, but the country offers "tremendous growth" opportunities for sales to expand.
More than US$40 million will be invested into its first plant in Nantong, Jiangsu Province, which will make carpets for the Asian market where corporate clients have to wait six to 12 weeks for products to be shipped from the US, Jeff Galloway, director of global operations, said yesterday at a ceremony.
The new plant, set to open in one year, will produce over 1 million square meters of carpet tiles in the first year of operation and make 5 million square meters annually.
China now accounts for a "small number" of the Georgia-based firm's US$4 billion annual sales, Galloway said, but the country offers "tremendous growth" opportunities for sales to expand.
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