Interface, Inc. Launches InterfaceFLOR; New Company to Offer High Style Modular Floorcovering Direct to Consumers
ATLANTA, Mar 13, 2003 /PRNewswire-FirstCall via COMTEX/ -- Interface, Inc. (Nasdaq: IFSIA) has announced the launch of InterfaceFLOR, Inc., a new company created to bring high style modular floorcovering to the residential market. Beginning mid-March 2003, InterfaceFLOR(TM) tile will be sold directly to consumers at www.interfaceflor.com and by catalog. "InterfaceFLOR brings Interface's modular expertise, environmental leadership, product innovation and speed-to-market to a new, residential customer base," said Daniel T. Hendrix, President and Chief Executive Officer of Interface, Inc. "We believe InterfaceFLOR has the potential to transform the way consumers perceive, use and purchase floorcovering."
"With the successful launch of InterfaceFLOR, we hope to create not only a new design option for consumers, but also a new residential floorcovering category," added Greg Colando, President of InterfaceFLOR, Inc.
Multiple Design Solutions
Due to its modularity, InterfaceFLOR tiles can be rearranged easily to transform the look of a room to fit any season, mood or furniture layout. Additionally, InterfaceFLOR is quickly replaceable and easily cleanable -- individual tiles can be washed in the sink. Consumers have the freedom to install InterfaceFLOR on most surfaces (linoleum, vinyl, hardwood or concrete), and the product can be used in almost any room in the home. To simplify the purchasing process, InterfaceFLOR has created pre-packaged area rug and wall-to-wall options in a variety of colors, patterns and textures.
A New Way to Buy Floorcovering
Beginning in mid-March, InterfaceFLOR will offer direct-to-consumer sales by catalog and Web site, allowing shoppers to buy floorcoverings when and where they want. Featuring the full InterfaceFLOR product line in an extensive gallery of photos, the catalog and Web site will provide helpful hints and examples from interior designers. The Web site will feature an easy-to-use, intuitive layout to help shoppers visualize the array of possible InterfaceFLOR patterns and arrangements on-screen and preview their selections before they buy. The product will be conveniently delivered to their doorsteps in compact boxes allowing for easy installation.
Known as one of the most environmentally responsible manufacturers in the world, Interface instills its corporate mission in InterfaceFLOR. The product is designed to be less wasteful; consumers can replace individual tiles when they become stained or worn and ship them back to InterfaceFLOR for recycling.
Based at Chicago's Merchandise Mart, InterfaceFLOR, Inc. was founded earlier this year as a part of the Interface, Inc. family of companies. To learn more about InterfaceFLOR, call 1-866-281-FLOR.
Interface, Inc. is a recognized leader in the worldwide commercial interiors market, offering floorcoverings, fabrics and interior architectural products. 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 Interface, Heuga, Bentley and Prince Street brands, and through its Bentley Mills and Prince Street brands, enjoys a leading position in the high quality, designer-oriented segment of the broadloom carpet market. The Company provides specialized carpet replacement, installation, maintenance and reclamation services through its Re:Source Americas service network. The Company is a leading producer of interior fabrics and upholstery products, which it markets under the Guilford of Maine, Stevens Linen, Toltec, Intek, Chatham, Camborne and Glenside brands. In addition, the Company provides specialized fabrics services through its TekSolutions business; produces raised/access flooring systems under the TecCrete, TecFlor, TecSteel and InterCell brands; and markets modular wiring systems under the Interface PeoplePower brand.
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 "Safe Harbor Compliance Statement for Forward-Looking Statements" in Item 1 of the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2001, 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 may be affected by cycles in the construction and renovation of commercial and institutional buildings," "Our continued success depends significantly upon the efforts, abilities and continued service of our senior management executives and our design consultants," "Our substantial international operations are subject to various political, economic and other uncertainties," "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 our arrangement with our primary third-party supplier of synthetic fiber could have a material adverse effect on us," "Our Rights Agreement, which is triggered if a third party acquires beneficial ownership of 15% or more of our common stock without our consent, could discourage tender offers or other transactions 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.
CONTACT: Daniel T. Hendrix, President and Chief Executive Officer, or Patrick C. Lynch, Chief Financial Officer, both of Interface, +1-770-437-6800; or Christine Mohrmann, Lindsay Hatton or Media contact, Jason Rando, all of FD Morgen-Walke, +1-212-850-5600, for Interface URL: http://www.interfaceinc.com http://www.prnewswire.com
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