EX-99.1
2
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
EXHIBIT
99.1
CONTACT:
Daniel
T. Hendrix
President
and Chief Executive Officer
Patrick
C. Lynch
Senior
Vice President and Chief Financial Officer
(770)
437-6800
FD
Christine
Mohrmann, Bob Joyce
(212)
850-5600
FOR
IMMEDIATE RELEASE
INTERFACE
ANNOUNCES CLOSE OF THE SALE OF ITS FABRICS DIVISION
ATLANTA,
Georgia, July 16, 2007 - Interface, Inc. (Nasdaq: IFSIA), a worldwide
floorcoverings company, today announced that it has completed the previously
announced transaction to sell its fabrics division, known as InterfaceFABRIC,
to
an affiliate of Sun Capital Partners, Inc. The Company said the transaction
was
closed on terms and conditions consistent with those previously disclosed.
Interface,
Inc. is a recognized leader in the worldwide interiors market, offering modular
and broadloom floorcoverings. 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.
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 December 31, 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
renovation and construction 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,"
"Large increases in the cost of petroleum-based raw materials could adversely
affect us if we are unable to pass these cost increases through to our
customers", "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", "The
market price of our common stock has been volatile and the value of your
investment may decline", "Our earnings in a future period could be adversely
affected by non-cash adjustments to goodwill, if a future test of goodwill
assets indicates a material impairment of those assets", "Our Chairman, together
with other insiders, currently has sufficient voting power to elect a majority
of our Board of Directors", 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.
#
#
#

EX - 99 . 1 2 ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 EXHIBIT 99 . 1 CONTACT : Daniel T . Hendrix President and Chief Executive Officer Patrick C . Lynch Senior Vice President and Chief Financial Officer ( 770 ) 437 - 6800 FD Christine Mohrmann , Bob Joyce ( 212 ) 850 - 5600 FOR IMMEDIATE RELEASE INTERFACE ANNOUNCES CLOSE OF THE SALE OF ITS FABRICS DIVISION ATLANTA , Georgia , July 16 , 2007 - Interface , Inc . ( Nasdaq : IFSIA ) , a worldwide floorcoverings company , today announced that it has completed the previously announced transaction to sell its fabrics division , known as InterfaceFABRIC , to an affiliate of Sun Capital Partners , Inc . The Company said the transaction was closed on terms and conditions consistent with those previously disclosed . Interface , Inc . is a recognized leader in the worldwide interiors market , offering modular and broadloom floorcoverings . 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 . 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 December 31 , 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 renovation and construction 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 , " " Large increases in the cost of petroleum - based raw materials could adversely affect us if we are unable to pass these cost increases through to our customers " , " 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 " , " The market price of our common stock has been volatile and the value of your investment may decline " , " Our earnings in a future period could be adversely affected by non - cash adjustments to goodwill , if a future test of goodwill assets indicates a material impairment of those assets " , " Our Chairman , together with other insiders , currently has sufficient voting power to elect a majority of our Board of Directors " , 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 . # # #