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Mohawk to Add 500 Jobs in North Georgia
Georgia Gov. Nathan Deal announced Wednesday that Calhoun-based Mohawk Industries is expanding the company’s Summerville manufacturing operations in Chattooga County. Mohawk anticipates adding about 500 jobs in Summerville over the next five years through investments in manufacturing technologies that support the company’s sustainable manufacturing processes.
“Mohawk is one of Georgia’s flagship Fortune 500 companies, and we are pleased to see its continued investments in our state leading to the creation of meaningful jobs in Summerville and other communities,” Deal said. “This expansion is a great indicator of the resilience of the carpet and floor covering industry. Mohawk has Georgia’s full support for its continued investments in our state.”
At its Summerville operation, Mohawk recycles billions of reclaimed plastic bottles and containers into polyester fiber used to produce carpet. Through the expansion project, Mohawk will improve the efficiencies of its recycling and manufacturing processes to produce more fiber. The market for polyester carpet continues to grow significantly, and these investments will allow Mohawk to expand its capacity to meet consumer demand.
“The men and women at our Summerville facility contribute significantly to the company’s success,” said Mark Dye, Mohawk’s vice president of recycling. “We continue to invest in leading edge technologies because of our confidence in the skills and dedication of our people. We anticipate the initial phase of the expansion will be operational in 2013, and we expect the manufacturing improvements to yield new, innovative products that will provide even more value to our customers. We appreciate the support of leaders in the City of Summerville, Chattooga County and the State of Georgia that helped to make this expansion possible.”
Mohawk employs thousands of people in Georgia and across the nation. For decades, the company has been a leader in Georgia’s floor covering industry, which is a vital part of the state’s economy. The company offers a complete line of flooring products including carpet, rugs, ceramic tile, stone, wood, laminate and vinyl. Mohawk is at the forefront of sustainable manufacturing through its transformation of recycled materials into fashionable flooring products, a process that ranks the company among the leading recyclers of plastic bottles in North America.
“Mohawk Industries is one of northwest Georgia’s greatest corporate citizens, so we are certainly pleased to collaborate to offer all of our support to ensure one of Georgia’s homegrown companies can expand right here in our community,” said Jeff Mullis, executive director of the Northwest Georgia Joint Development Authority. “The carpet and floor covering industry is truly the backbone of our regional economy, so this expansion will not only benefit Mohawk, but also the people in communities throughout northwest Georgia.”
“The City of Summerville and Chattooga County are excited to join with the state and all of our partners involved in helping Mohawk Industries expand its operations in our community,” said Chattooga County Sole Commissioner Jason Winters. “Mohawk is one of our leading employers, so we remain fully committed to making certain this company has our complete support to remain competitive and grow in Chattooga County.”
The Georgia Department of Economic Development (GDEcD) partnered with the City of Summerville and Mayor Harry Harvey, the Northwest Georgia Joint Development Authority and the Chattooga County Chamber to manage this expansion project. GDEcD regional project manager Carl Campbell managed this opportunity on behalf of the state.
“Mohawk Industries is one of Georgia’s longstanding partners, and has created countless opportunities for the people of this state,” said GDEcD Commissioner Chris Cummiskey. “This expansion makes a significant statement about the future of the carpet industry in Georgia, and will have a tangible positive impact for the communities of northwest Georgia.”
About Mohawk Industries
Mohawk is a leading supplier of flooring for both residential and commercial applications. Mohawk offers a complete selection of carpet, ceramic tile, laminate, wood, stone, vinyl and rugs. These products are marketed under the premier brands in the industry, which include Mohawk, Karastan, Lees, Bigelow, Durkan, Daltile, American Olean, Unilin and Quick-Step. Mohawk’s unique merchandising and marketing assist our customers in creating the consumers’ dream. Mohawk provides a premium level of service with its own trucking fleet and local distribution in the United States. Mohawk’s operational international presence includes Australia, China, Europe, Malaysia, Mexico and Russia.
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Last Update on October 31, 2014 17:47 GMT
WASHINGTON (AP) -- U.S. consumers expect better economic growth and rising incomes in the coming months, pushing a measure of confidence to a seven-year high in October.
The University of Michigan says that its index of consumer sentiment rose to 86.9 from 84.6 in September. That's the highest since July 2007, five months before the Great Recession began. Still, the index regularly topped 90 before the downturn.
Richard Curtin, the survey's chief economist, says that almost six in ten of the respondents said the economy has improved recently, the highest proportion in more than 10 years.
The measure is the second this week to show consumer confidence has reached the highest level since the recession. Greater confidence and more hiring could lead to faster spending and healthier economic growth.
WASHINGTON (AP) -- U.S. consumer spending fell in September, the first decline since January, as shoppers took a breather after a big spending spree in August. Income growth posted the slowest gain this year.
The Commerce Department says consumer spending dropped 0.2 percent in September. Income edged up 0.2 percent in September, the smallest monthly gain since a flat reading last December.
The spending decline followed a big 0.5 percent increase in August. In September demand fell for durable goods such as autos and for nondurable goods, a drop that partially reflected falling prices for gasoline.
Spending is closely watched because it accounts for 70 percent of economic activity. Economists believe September will be a temporary pause as continued hiring gains pushing up spending and the overall economy in coming months.
NEW YORK (AP) -- The average price of gasoline in the U.S. hit $3 a gallon Friday, and should soon drop below the benchmark for the first time since December 2010.
The price at the pump fell 33 cents in October, thanks mainly to plunging oil prices, according to AAA.
Many exuberant drivers have taken to social media to post pictures of gas station signs with prices of $2.99 or lower. Drivers in South Carolina and Tennessee are paying the lowest prices, with an average of $2.75 a gallon.
Drivers in New York are paying the most in the continental U.S., at an average of $3.37. That's still 22 cents cheaper than a year ago.
Gasoline is cheaper than milk again. In September the national average price of milk was $3.73 per gallon.
NEW YORK (AP) -- Falling oil prices hardly seem to be bothering the two biggest U.S. oil companies, but things could get tougher in the coming months.
Exxon and Chevron leaned on strong performances from their refining operations to increase profits in the third quarter despite plummeting global oil prices.
The global price of oil fell 18 percent from the beginning of the quarter to the end, and it cost both companies. Revenue slipped at Exxon by 4 percent and at Chevron by 8 percent.
But low oil and natural gas prices make for low raw material costs -- and higher profit -- for refining and chemical operations, which turn oil and gas into fuels and chemicals. Profit at Exxon's refining and chemicals operations rose 38 percent compared with a year earlier, and Chevron's profit from its so-called downstream operations more than tripled.
Those results helped Exxon's overall earning rise 3 percent in the quarter to $8.07 billion. Chevron's earnings rose 13 percent to $5.59 billion.
NISSAN-AIR BAG RECALL
DETROIT (AP) -- Nissan says it's recalling more than 1,800 Infiniti SUVs in the U.S. for an air bag problem that could send shrapnel into the passenger compartment.
The recall covers the QX56 SUVs from 2013 and the QX80s from 2014. The company says inflators made by Takata Corp. were built with an incorrect outer baffle part. That can cause pressure to build up, and the inflators can rupture if driver's side air bags are deployed.
Nissan has no reports of injuries from the problem. It was discovered after General Motors recalled 33,000 Cruze compact cars for the same problem in June. The Infiniti recall is part of a larger global recall of 260,000 Nissans announced last week.
Takata says the recall is separate from another one affecting 8 million vehicles in the U.S.
FRANKFURT, Germany (AP) -- Inflation has crept higher in the 18 countries that use the euro but the rise to 0.4 percent in the year to October is unlikely to offer much relief to the European Central Bank as it tries to boost a weak economy.
The official figure released Friday was up from 0.3 percent the month before.
The European Central Bank is under pressure to give the eurozone another dose of stimulus measures in coming months because inflation is so low and growth so weak. There are fears the eurozone could even fall into outright deflation, a crippling downward price spiral.
Core inflation, a key measure because it excludes volatile food and energy prices, fell to 0.7 percent from 0.8 percent.
The bank's goal is to keep inflation just below 2 percent.
LONDON (AP) -- Royal Bank of Scotland, which is majority-owned by the U.K. government, has set aside 400 million pounds ($639 million) to cover potential fines arising from international investigations into alleged manipulation of foreign currency trading.
The total represents over half the 780 million pounds the bank earmarked for "conduct and litigation costs" in third-quarter earnings released Friday.
The results show the bank, which was bailed out by the government during the 2008 financial crisis, swung back to profit during the July-September period. Its net income of 896 million pounds follows an 828 million-pound loss last year.
CEO Ross McEwan says the bank knows it has "a long list of conduct and litigation issues to deal with and much, much more to do to restore our customers' trust in us."
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