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CARRIAGE INDUSTRIES ADOPTS GEORGIA FAIR PRICE STATUTE

 CARRIAGE INDUSTRIES ADOPTS GEORGIA FAIR PRICE STATUTE
 CALHOUN, Ga., Sept. 11 /PRNewswire/ -- Carriage Industries, Inc. (NYSE: CGE), a leading carpet manufacturer for specialized markets, announced today that its board of directors has amended the company's by-laws to make the provisions of the Georgia Fair Price Statute applicable to mergers and other business combinations involving the company.
 These provisions are comparable to sections of the company's articles of incorporation that were adopted in 1988. They would prevent the second step in an acquisition of the company for a purchase price that was lower, or in a different form of consideration, than that paid to acquire the initial stake, unless such second step transaction was approved by the board of the company. These provisions are effective immediately.
 Carriage, with fiscal 1992 sales of $119 million from continuing operations, is a vertically integrated manufacturer of carpet for specialized markets. The company is a leading supplier to the manufactured housing, recreational vehicle, small boat, and exposition/trade show industries. Carriage also produces carpet for the contract/residential, hospitality/commercial and home center/needlebond markets.
 -0- 9/11/92 R
 /CONTACT: Steven G. Jones, vice president, Finance of Carriage Industries, 706-629-9234/
 (CGE) CO: Carriage Industries, Inc. ST: Georgia IN: TEX SU:


EA-BR -- AT005 -- 8576 09/11/92 15:42 EDT
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Publication:PR Newswire
Date:Sep 11, 1992
Words:215
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