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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.
In 2005, Mohawk purchased Unilin, a Belgium-based maker of laminate flooring and MDF board (a composite used in do-it-yourself furniture) for $2.6 billion (~$3.9 billion in 2023). [7] In 2023, Lorberbaum's total compensation from Mohawk was $4.4 million, or 103 times the median employee pay at Mohawk for that year. [8]
[4] [6] In 1985, Shaw made its first appearance on the list of America's largest corporations—the Fortune 500—with more than $500 million in sales and close to 5,000 employees. [6] The Shaw Industries Group had four billion in sales as of 1999. [8] The company also merged with Cabin Crafts and Sutton, and Queen Carpets. [6] J.