Author Topic: Shaw to be acquired?  (Read 1786 times)

BRK7

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Shaw to be acquired?
« on: March 02, 2019, 01:50:59 PM »
From North Carolina's "The Franking Press"

From: Franklin Press, The (NC)
Mar-01-2019 10:35 AM
Shaw Industries, one of Macon County's most important employers, is in negotiations to be acquired.

"I can confirm that we are in the process of working with a potential buyer," said Ashley Hyder, human resources manager at the Franklin facility.

Shaw has been expanding its Franklin operation in recent years, adding a third shift in 2017. Shaw announced plans to increase the production capacity at the Franklin facility in November 2017 when the company decided to shift production away from a facility in Virginia.

The original plan was for the Franklin plant to add 30 employees, but over the past two months that number has increased to roughly 40 new positions.

Shaw Industries Group, Inc., a subsidiary of Berkshire Hathaway Inc., is one of the world's largest flooring producers with annual sales of more than $4 billion and about 22,300 employees worldwide

The company is headquartered in Dalton, Georgia.

https://www.etypeservices.com/Franklin%20PressID611/Default.aspx?PubID=3475


gfp

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Re: Shaw to be acquired?
« Reply #1 on: March 02, 2019, 02:19:08 PM »
It would certainly be surprising since they just acquired US Floors a couple years ago and Warren mentioned that it set up Shaw to be a meaningful contributor to Berkshire's earning power in the future.  US Floors is a growing supplier of vinyl plank flooring that you can buy at Lowe's - SmartCore, SmartCore Ultra, etc..

I have a feeling that the HR manager in Franklin Tenn. isn't in the know about Shaw Inc level deals and might be trying to say that her facility in Franklin could be acquired.

Who knows.  Maybe Warren sells half the subs this year.  First Applied Underwriters, then Shaw - is GEICO next?!

rb

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Re: Shaw to be acquired?
« Reply #2 on: March 02, 2019, 03:05:17 PM »
No matter what the case is, I have a feeling that an HR manager at Shaw is in process of getting fired.

BRK7

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Re: Shaw to be acquired?
« Reply #3 on: March 02, 2019, 03:07:16 PM »
I have a feeling that the HR manager in Franklin Tenn. isn't in the know about Shaw Inc level deals and might be trying to say that her facility in Franklin could be acquired.

I wondered the same. 

With duopoly competitor Mohawk trading reasonably cheap right now (in my opinion), it would seem an inopportune time to sell Shaw.

Mephistopheles

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Re: Shaw to be acquired?
« Reply #4 on: March 05, 2019, 05:49:21 AM »
Since when does Berkshire sell businesses? This doesn’t make sense