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Mohawk Industries

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Mohawk Industries, Inc
Company typePublic
IndustryConglomerate
FoundedAmsterdam, New York
United States (1878 (1878))
Headquarters
Calhoun, Georgia
,
U.S.
Area served
Worldwide
Key people
Jeffrey Lorberbaum
(Chairman & CEO)[1]
ProductsFlooring
RevenueIncrease $ 10 billion (FY 2019)[2]
Increase $ 1.4 billion (FY 2015)[3]
Total assetsIncrease $ 13.1 billion (FY 2019)[2]
Total equityIncrease $ 3.7 billion (FY 2012)[4]
Number of employees
42,100 (2018)
WebsiteMohawkInd.com

Mohawk Industries is an American flooring manufacturer based in Calhoun, Georgia, United States. Mohawk produces floor covering products for residential and commercial applications in North America and residential applications in Europe. The company manufacturing portfolio consists of soft flooring products (broadloom carpet, carpet tiles, carpet cushion and rugs), hard flooring products (ceramic and porcelain tile, natural stone and hardwood flooring), laminate flooring, sheet vinyl and luxury vinyl tile, natural stone and quartz countertops. In Europe, the company also produces and sells insulation, panels and mezzanine flooring. The company employs 43,000 people in operations in Australia, Brazil, Canada, Europe, Malaysia, Mexico, New Zealand, Russia and the United States.[5]

In 2015, Mohawk was recognized as the most used, top-brand familiarity, and top-quality rating carpet product by the Builder magazine.[6]

History

William Shuttleworth and his four sons arrived in the United States in 1875 and set up a carpet mill in the Hudson Valley upon arrival. After William Shuttleworth died, the four sons moved to Amsterdam, New York in 1878 and took over an empty factory there.[7] The company incorporated as the Shuttleworth Brothers Company in 1902.[8]

The company adopted the name Mohawk Carpet Mills (or Mohawk Mills, for short) in 1920, when it merged with McCleary, Wallin and Crouse, another mill in Amsterdam.[9] It became the country's sole weaver to offer an entire line of domestic carpets, also creating the industry's first textured design and sculptured weave.[8]

In 1956, Mohawk Carpet Mills merged with Alexander Smith, Inc. to become Mohasco Corporation, a company large enough to appear on the first Fortune 500 rankings. Mohasco faced competition from new tufted carpet operations in Georgia, which used synthetic fibers such as nylon and polyester rather than the traditional wool used in woven carpets. To compete in a changing industry, Mohasco gradually moved manufacturing south into the Carolinas and eventually Georgia. In 1963, the company turned some of its attention to furniture manufacturing through acquisitions.

Carpet manufacturing at the Amsterdam site ended by 1968 and the last corporate offices left by 1987.[7] In 1988, Mohasco was purchased by MHS Holdings in a leveraged buyout, and the company's carpet business was spun off from Mohasco to form Mohawk Industries.[9][10]

Mohawk Industries factory in Commerce, Texas

In 1992, Mohawk went public with its shares traded first on the NASDAQ Stock Exchange under the ticker symbol "MWK" and currently on the New York Stock Exchange under the ticker symbol "MHK."[11] Mohasco's remaining assets were sold to other investors, and the company was later dissolved. Through 2016, Mohawk Industries has acquired 34 companies into its conglomerate, and now operates manufacturing facilities in 15 countries—the U.S., Mexico, Brazil, Ireland, the U.K., Belgium, France, the Netherlands, Luxembourg, Spain, Italy, the Czech Republic, Bulgaria, Russia and Malaysia.[8] The company's present Chairman and CEO is Jeffrey Lorberbaum.

Mohawk's open line brands include American Olean, Daltile, Decortiles, Durkan, Eliane, Feltex, Foss, Godfrey Hirst, Karastan, Kerama Marazzi, Marazzi, Moduleo, Mohawk, Mohawk Group, Mohawk Home, Pergo, Quick-Step, Ragno and Unilin.[12]

Mohawk Industries, Inc. v. Carpenter

In 2009, it was involved in the Supreme Court case Mohawk Industries, Inc. v. Carpenter. The court found against Mohawk Industries, in a 9–0 decision.[13][clarification needed]

References

  1. ^ "Mohawk Industries - Leadership". Archived from the original on 2 February 2017. Retrieved 29 August 2013.
  2. ^ a b "Mohawk Industries (MHK)". Forbes.
  3. ^ "Mohawk Industries 2015 Annual Report, Form 10-K, Filing Date March 27, 2015" (PDF). secdatabase.com. Archived (PDF) from the original on March 4, 2016. Retrieved August 29, 2013.
  4. ^ "Mohawk Industries 2012 Annual Report, Form 10-K, Filing Date Feb 27, 2013" (PDF). secdatabase.com. Archived (PDF) from the original on March 4, 2016. Retrieved August 29, 2013.
  5. ^ "Mohawk Industries: Data Center Disaster Recovery Case Study". DC BLOX. 2018-02-21. Retrieved 2020-05-12.
  6. ^ "2015 BUILDER BRAND USE STUDY RESULTS". Builder. Retrieved 19 June 2015.
  7. ^ a b "Daily Gazette".
  8. ^ a b c "History of Mohawk Industries, Inc. – FundingUniverse". www.fundinguniverse.com.
  9. ^ a b Yasinsac, Rob. "HVR: Mohawks Mills, Amsterdam, NY, by Rob Yasinsac". www.hudsonvalleyruins.org.
  10. ^ Eichenwald, Kurt (10 May 1988). "COMPANY NEWS; Mohasco Accepts Bid Valued at $507 Million". The New York Times.
  11. ^ "BRIEFS". The New York Times. 2 April 1992.
  12. ^ "Mohawk Industries", Forbes, June 2019
  13. ^ "Mohawk Industries, Inc. v. Carpenter". www.oyez.org.
  • Business data for Mohawk Industries:
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