Mohawk to Acquire Propex Plant

Calhoun, GA, March 1--Mohawk Industries, Inc., agreed to purchase one plant located in Roanoke, Alabama, that produces secondary carpet backing from Propex Fabrics Inc. The new plant employs approximately 470 individuals. Jeff Lorberbaum, Mohawk's chairman & CEO, said, "Propex has been a major supplier of secondary carpet backing to Mohawk. They have earned a reputation as a solid manufacturing organization for quality, service and value. We look forward to welcoming their employees into the Mohawk family and becoming a part of these communities." The sale will be to Aladdin Manufacturing Corporation, an affiliate of Mohawk Industries, Inc. The transaction, which is subject to routine regulatory approvals, is expected to be consummated in early April. After completing this transaction, Propex will remain the world's largest independent producer of primary and secondary carpet backing. Earlier in the week, Propex also announced the completion of its acquisition of SI Concrete Systems Corporation and SI Geosolutions Corporation.