global
ceramic

OPERATING HIGHLIGHTS

• Reported sales of $3.2 billion and operating income of $478 million.
• Opened a new Tennessee ceramic plant ahead of schedule and now running above expectations. With the facility’s state-of-the-art capabilities, we are developing unique styles and larger sizes to enhance our product portfolio.
• Modernized our Italian manufacturing assets, which allowed us to completely transform our European product offering, expanding our margins and positioning us as the style leader in the market.
• Improved our Eastern European ceramic business through productivity enhancements and upgraded product style and design; began shipping manufactured product from Eastern Europe to the U.S. and Western Europe.
• Expanded our participation in the European commercial ceramic channel by upgrading high-end commercial assets, a project which will be complete by mid-2017.
• Initiated expansion of our Salamanca plant in Mexico, which will roughly double the facility’s capacity and will be operational by the end of 2017.
• Improved ceramic sales on a local basis in Russia by participating in the new construction sector and expanding distribution through investments in owned and franchised stores; both initiatives enabled us to outperform a challenging Russian ceramic market.