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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 27, 2000
MOHAWK INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 01-19826 52-1604305
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(State or other (Commission File (IRS Employer
Jurisdiction of Number) Identification No.)
Incorporation)
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160 South Industrial Blvd., Calhoun, Georgia 30701
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(Address, including zip code, of principal executive offices)
(706) 629-7721
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(Registrant's telephone number, including area code)
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Item 5. Other Events
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On April 27, 2000, Mohawk Industries, Inc. ("Mohawk") issued a press
release announcing the appointment of Monte Thornton and retirement of
Frank Procopio. A copy of such press release is included as an exhibit
to this report and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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C. Exhibits
99.1 Press Release dated April 27, 2000
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Mohawk Industries, Inc.
Date: April 27, 2000 By: /s/ Frank H. Boykin
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Frank H. Boykin
Corporate Controller
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INDEX TO EXHIBITS
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Exhibit
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99.1 Press Release dated April 27, 2000
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Exhibit 99.1
For Release: Immediately
Contact: John D. Swift, Chief Financial Officer
MOHAWK INDUSTRIES, INC. ANNOUNCES APPOINTMENT OF MONTE THORNTON
AND RETIREMENT OF FRANK PROCOPIO
Calhoun, Georgia, April 27, 2000 - Mohawk Industries, Inc. (NYSE: MHK) today
announced the appointment of Monte Thornton to the position of President-
Commercial Business effective May 1, 2000. Prior to his appointment, Mr.
Thornton was President-Karastan Business. He will also continue in this
capacity.
Monte joined Karastan in 1990 and became part of Mohawk Industries, Inc. in 1993
as part of the acquisition of Karastan from Fieldcrest. He has extensive
experience in the carpet industry, which will provide a smooth transition in
leadership.
Frank Procopio, President-Commercial Business announced his retirement effective
May 31, 2000 after 19 years of service to the company. Mr. Procopio was a
member of the management team that lead the leveraged buyout of Mohawk Carpet
from Mohasco Corporation in 1988 and the subsequent Initial Public Offering of
Mohawk Industries, Inc. in 1992. During his successful work with the company as
President-Commercial Business, Frank directed the integration of the Harbinger,
Karastan, Bigelow, World and Durkan product lines into the Mohawk Commercial
Business.
Commenting on these changes, Jeffrey Lorberbaum, President and Chief Operating
Officer of Mohawk, stated "I am personally pleased that Monte has accepted these
expanded responsibilities with the Company. He has contributed significantly to
the Company with the success of Karastan. I am confident Monte will add value
to the Commercial Business. Frank will be involved during May to assist Monte
in an orderly transition. With Frank's high energy level, we know he will be
very active in pursuing other interests. We will miss Frank and wish him well
in retirement."
Certain of the statements in the immediately preceding paragraphs, particularly
anticipating future financial performance, business prospects, growth and
operating strategies, proposed acquisitions, new products and similar matters,
and those preceded by, followed by or that otherwise include the words
"believes," "expects," "anticipates," "intends," "estimates," or similar
expressions constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended. For those statements,
Mohawk claims the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995. Those
statements are based on assumptions regarding the Company's ability to maintain
its manufacturing capabilities, marketing strategies, distribution network and
its Mohawk brand awareness. These or other assumptions could prove inaccurate
and therefore,
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there can be no assurance that the "forward-looking statements" will prove to be
accurate. Forward-looking statements involve a number of risks and
uncertainties. The following important factors affect the future results of
Mohawk and could cause those results to differ materially from those expressed
in the forward-looking statements: materially adverse changes in economic
conditions generally in the carpet, rug and floorcovering markets served by
Mohawk; competition from other carpet, rug and floorcovering manufacturers; oil
price increases; raw material prices; timing and level of capital expenditures;
the successful integration of acquisitions including the challenges inherent in
diverting Mohawk's management attention and resources from other strategic
matters and from operational matters for an extended period of time; the
successful introduction of new products; the successful rationalization of
existing operations; and other risks identified from time to time in the
Company's SEC reports and public announcements.
Mohawk is a leading producer of woven and tufted broadloom carpet and rugs for
residential and commercial applications. The Company designs, manufactures and
markets carpet in a broad range of colors, textures and patterns and is widely
recognized through its premier brand names, some of which include "Mohawk,"
"Aladdin," "Bigelow," "Custom Weave," "Durkan," "Galaxy," "Harbinger," "Helios,"
"Horizon," "Image," "Karastan," "Mohawk Commercial," "World," and "Wunda Weve."
Mohawk offers a broad line of area and washable rugs branded by Karastan,
Aladdin, Newmark & James and American Rug Craftsmen and decorative throw
blankets, placemats, pillows and chairpads branded by American Weavers. Mohawk
also offers a complete laminate product line and distributes carpet padding and
ceramic tile. The Company markets its products primarily through retailers and
dealers.
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