Mohawk Industries, Inc. Completes Purchase of Wood Flooring Assets
14 August 2007 - 11:12PM
PR Newswire (US)
CALHOUN, Ga., Aug. 14 /PRNewswire-FirstCall/ -- Mohawk Industries,
Inc., (NYSE:MHK) today announced that it completed the purchase of
four wood flooring plants from Columbia Forest Products. This
transaction was previously announced on June 26, 2007. The
facilities include two pre- finished solid plants and one
engineered wood plant in the U.S. and an engineered wood plant in
Malaysia. They presently are supplying Mohawk with a portion of its
wood requirements. This addition will allow Mohawk to increase its
participation in the $2.4 billion wood flooring market. In the
U.S., the pre-finished wood market is anticipated to grow at a rate
of 6% to 8% over the long term. Mohawk will now have the number one
or two position in the wood, carpet, ceramic tile, laminate, stone
and rug markets. The acquisition of these assets is an integral
part of the Mohawk strategy to offer a total floor covering
solution to our customers. Certain of the statements in the
immediately preceding paragraphs, particularly those anticipating
future performance and business prospects, constitute
"forward-looking statements," under the Private Securities
Litigation Reform act of 1995. There can be no assurance that the
forward- looking statements will be accurate because they are based
on many assumptions, which involve risks and uncertainties
identified in Mohawk's SEC reports and public announcements. Mohawk
is a leading supplier of flooring for both residential and
commercial applications. Mohawk offers a complete selection of
tufted and woven broadloom carpet, ceramic tile, laminate, wood,
stone, vinyl, rugs and other home products. These products are
marketed under the premier brands in the industry, which include
Mohawk, Karastan, Ralph Lauren, Lees, Bigelow, Dal-Tile and
American Olean. Mohawk's unique merchandising and marketing systems
assist its customers in creating the consumer's dream. Mohawk
provides a premium level of service with its own trucking fleet and
over 250 local distribution locations. DATASOURCE: Mohawk
Industries, Inc. CONTACT: Frank H. Boykin, Chief Financial Officer
of Mohawk Industries, Inc., +1-706-624-2695 Web site:
http://www.mohawkind.com/
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