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Carpet maker Shaw signs deal for S I Corp's carpet backing unit

13 Aug '05

2 min read

Leading carpet company Shaw Industries and SI Corporation announced a definitive agreement has been entered into whereby SI will sell Shaw its woven carpet backing operation in Chickamauga, Georgia. Pending regulatory approval a closing is expected in the fall of 2005.

With this sale, SI will remain committed to growing the other core businesses in its portfolio. According to Joe Dana, SI's President and CEO, "Company plan to sharpen to focus on remaining core businesses in the construction, home furnishing and performance technology markets."

"This sale gives us the capital we need to pursue acquisition and/or expansion opportunities. Chickamauga is only one of our four manufacturing facilities, and we plan to continue to grow our business in our remaining core markets from plants in Chattanooga, Ringgold and Gainesville."

"Shaw's acquisition of SI's woven backing operation is a perfect fit," Dana commented. "Not only is it a large, efficient woven backing plant but it is also centrally located to most of Shaw's major carpet plants. In addition, our Chickamauga employees get to join one of America's premier flooring companies. Everybody involved benefits."

Innovative and high-performance products developer SI Corporation products which provide support, strength, and stabilization solutions for its customers in the Furnishings and Construction Materials markets. SI produces materials that reinforce concrete, stabilize roadways and construction sites, minimize erosion and stormwater damage, and reinforce a number of household products used by consumers on a daily basis.

Shaw is a subsidiary of Berkshire Hathaway Inc, is headquartered in Dalton, Georgia. Shaw produces and sells carpet, rugs, ceramic, hardwood, and laminate flooring for residential and commercial applications throughout the world. To be exact, company manufacture more than 600 million square yards of floor covering every year-enough to wrap a 6-foot wide path around the earth's equator 7 times.

Shaw Industries

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