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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 1993, Mohawk Industries purchased the Karastan business. In 2021, it closed the Eden production facilities and ended wool rug production, consolidating its textile production in Georgia where synthetic carpets will continue to be made under the Karastan brand. [1]
It was later absorbed into Mohawk Carpet, later Mohasco Corporation. [6] The carpet weaving industry was revolutionized by looms invented in this plant by Alexander Smith and Halcyon Skinner. [7] Skinner, an engineer, designed a loom known as the Axminster power loom (also known as the Moquette Loom), which revolutionized the production of 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]
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His company continued to operate, and through successive mergers eventually moved to Mississippi as part of Mohawk Industries. [5] The Alexander Smith Carpet Mills Historic District in Yonkers was established in 1983, and contains many of the buildings that made up the factory and offices before the company moved out of New York. [6]
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