ATLANTA, Oct. 27 /PRNewswire-FirstCall/ -- Interface, Inc. (Nasdaq: IFSIA), a worldwide floorcoverings and fabrics company, today announced the election of David Kohler to its board of directors. (This addition brings the total members of the Company's board of directors to 11, of which 9 are independent directors.) Mr. Kohler, age 40, is Group President of the Kitchen and Bath Group for Kohler Co., a global leader in the manufacture of kitchen and bath products, tile, cabinetry, engines and power generation systems, and an owner/operator of golf and spa destinations. Mr. Kohler was previously a chairman of the National Kitchen and Bath Association's Board of Governors of Manufacturing. He is currently a member of the board of Kohler Co., and has previously served on the board of Menasha Corporation, a privately-held manufacturer. In 2004, he was named one of Builder Magazine's 50 Most Influential People in Home Building. Mr. Kohler holds a Master's degree in management from the Kellogg Graduate School of Management at Northwestern University, and a Bachelor's degree in political science from Duke University.
Daniel T. Hendrix, President and Chief Executive Officer, commented, "We are very pleased to welcome David to Interface's board of directors. His extensive experience in designing, manufacturing and marketing products for the consumer products and homebuilding markets, throughout North America and Asia, will be very valuable to our company as we continue to build our business. We look forward to his contributions."
Interface, Inc. is a recognized leader in the worldwide interiors market, offering floorcoverings and fabrics. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. The Company is the world's largest manufacturer of modular carpet under the InterfaceFLOR, FLOR, Heuga and Bentley Prince Street brands, and, through its Bentley Prince Street brand, enjoys a leading position in the high quality, designer-oriented segment of the broadloom carpet market. The Company's InterfaceFabric business is a leading producer of interior fabrics and upholstery products, which it markets under the Guilford of Maine, Chatham and Terratex brands, and provides specialized automotive textile solutions.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. The forward- looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including risks and uncertainties associated with economic conditions in the commercial interiors industry as well as the risks and uncertainties discussed under the heading "Risk Factors" included in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2006, which discussion is incorporated herein by this reference, including, but not limited to, the discussion of specific risks and uncertainties under the headings "We compete with a large number of manufacturers in the highly competitive commercial floorcovering products market, and some of these competitors have greater financial resources than we do," "Sales of our principal products have been and may continue to be affected by adverse economic cycles in the construction and renovation of commercial and institutional buildings," "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives and our principal design consultant, and our loss of any of them could affect us adversely," "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuations," "Our Chairman, together with other insiders, currently has sufficient voting power to elect a majority of our Board of Directors," "Large increases in the cost of petroleum-based raw materials, which we are unable to pass through to our customers, could adversely affect us," "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber could have a material adverse effect on us," "We have a significant amount of indebtedness which could have important negative consequences to us," and "Our Rights Agreement could discourage tender offers or other transactions for our stock that could result in shareholders receiving a premium over the market price for our stock." Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.
SOURCE Interface, Inc.
Daniel T. Hendrix,
President and Chief Executive Officer,
or Patrick C. Lynch,
Vice President and Chief Financial Officer,
both of Interface, Inc.,
or Christine Mohrmann or Jim Olecki of Financial Dynamics,
+1-212-850-5600, for Interface, Inc.
Web site: http://www.interfaceinc.com