Mohawk Industries

#1963

Rank

$7.15B

MarketCap US

US United States

Country

Summary
Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products. This segment markets and distributes its products under the American Olean, Daltile, Eliane, EmilGroup, KAI, Kerama Marazzi, Marazzi, and Ragno brands. The Flooring NA segment offers floor covering product lines in a range of colors, textures, and patterns, including carpets, carpet tiles, rugs and mats, carpet pads, hardwood, laminate, medium-density fiberboards, luxury vinyl tiles (LVT), and sheet vinyl products. This segment markets and distributes its flooring products under the Aladdin Commercial, Durkan, IVC, Karastan, Mohawk, Mohawk Group, Mohawk Home, Pergo, Portico, and Quick-Step brands. The Flooring ROW segment provides wood flooring and vinyl flooring, as well as laminates, roofing elements, sheet vinyl, LVT, insulation boards, medium-density fiberboards, chipboards, and other woods products under the Feltex, Godfrey Hirst, Hycraft, IVC Commercial, IVC Home, Leoline, Moduleo, Pergo, Quick-Step, and Unilin and Xtratherm brands; and licenses its intellectual property to flooring manufacturers. Mohawk Industries, Inc. was incorporated in 1988 and is headquartered in Calhoun, Georgia.

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. The company incorporated as the Shuttleworth Brothers Company in 1902.The company adopted the name Mohawk Carpet Mills in 1920, when it merged with McCleary, Wallin and Crouse, another mill in Amsterdam. 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.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. 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.

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."

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. 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.


Mission
It's all part of our mission to create innovative products that make life better… and to bring you the best floor possible.

Vision
To be a leader in the global flooring industry by providing our customers with quality, stylish and sustainable products. We strive to create and offer flooring solutions that embrace advances in product innovation, design and technology; that are easy to use, safe to install and well-fitting to their needs.

Key Team

Mr. Bernard P. Thiers (Pres of Unilin - Flooring Rest of World)

Mr. William W. Harkins (Chief Accounting Officer & Corp. Controller)

Mr. Paul F. De Cock (Pres of Flooring North America Segment)

Mr. Shailesh S. Bettadapur (VP of Investor Relations & Treasurer)

Mr. Rodney David Patton (VP of Bus. Strategy, Gen. Counsel & Sec.)

Mr. Clifford C. Suing (CFO of Global Ceramic Segment)


Recognition and Awards
Mohawk Industries has been honored with a wide range of awards, such as the Carpet and Rug Institute’s 2015 Product Innovation Award, Business of Furniture’s 2016 Retailer of the Year, and Floor Covering News’ 2019 Commercial Flooring Brand of the Year. In 2020, Mohawk Industries was also recognized as one of the Top 100 Green Companies by GreenBiz.

References
Mohawk Industries
Leadership team

Mr. Jeffrey S. Lorberbaum (Chairman & CEO)

Mr. James F. Brunk (Chief Financial Officer)

Mr. William Christopher Wellborn (Pres, COO & Director)

Products/ Services
Commercial Real Estate, Construction, Manufacturing, Residential
Number of Employees
20,000 - 50,000
Headquarters
Calhoun, Georgia, United States
Established
1878
Company Registration
SEC CIK number: 0000851968
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
MHK
Social Media
Fri Mar 01 2024
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