CALHOUN, Ga., Aug. 14 /CNW/ -- 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.
For further information:
For further information: Frank H. Boykin, Chief Financial Officer of
Mohawk Industries, Inc., +1-706-624-2695 Web Site: http://www.mohawkind.com