IVC US announced that plans are under way to build a brand new luxury vinyl plank and tile (LVT) manufacturing facility in the United States with the largest capacity in North America. The $80 million project is anticipated to be completed and fully operational first quarter 2015.
"Following the success of our LVT investment in Belgium, the decision to move forward with another major LVT investment for North America underscores IVC Group's position in leading this category from both sides of the Atlantic. It also underscores our confidence in the North American market," says Jan Vergote, CEO of IVC Group.
In 2012, IVC Group opened its ultra-modern LVT manufacturing plant in Belgium, eliminating the need to source from the Far East. This plant currently supplies all residential and commercial LVT sold by IVC around the world. The strong and consistent demand for LVT in the marketplace has solidified IVC's need for a second plant investment.
"IVC US is ready to engage in its second North American manufacturing investment since 2011, when we opened our sheet vinyl plant in Dalton, Ga.," says Xavier Steyaert, co-CEO of IVC US. "Just as we proved with fiberglass sheet vinyl, we will again demonstrate with LVT our capability to deploy state-of-the-art manufacturing technology, combine it with operational excellence and create more American jobs."
The 300,000 square foot LVT manufacturing facility is projected to create in excess of 200 jobs. In addition, building the new plant in the United States will also mean that 100% of IVC US LVT will be American made.
"By widening the breadth of our product portfolio made in house and in the U.S., it will allow our distributor and retail partners to further deepen their relationship with IVC US," says Paul Murfin, Co-CEO of IVC US. "They will also enjoy high quality products that will generate high profit margins, just as they are currently experiencing with our residential and commercial fiberglass sheet vinyl and our Belgian-made LVT products."
Since 2004, when IVC Group first decided to incorporate IVC US to service the North American markets, it has experienced explosive growth, which has moved IVC US from an industry challenger to an industry leader in the resilient category.
