HAWORTH ACQUIRES SIGNIFICANT INTEREST IN MOBILIER INTERNATIONAL; CONTINUES TO EXPAND INTERNATIONAL PRESENCE
HAWORTH ACQUIRES SIGNIFICANT INTEREST IN MOBILIER INTERNATIONAL;
CONTINUES TO EXPAND INTERNATIONAL PRESENCE
HOLLAND, Mich., Nov. 22 /PRNewswire/ -- Haworth, Inc., one of the world's largest office furniture manufacturers, announced today that it has reached an agreement to acquire a significant interest in Mobilier International of Paris. Mobilier, with sales exceeding $25 million, is known in Europe for its wide range of executive wood furniture, office seating and general office designs.
The agreement represents Haworth's ninth acquisition or investment in the last three years and Haworth's fifth investment outside the United States.
Haworth has had a relationship with Mobilier for more than 17 years. Mobilier has been the exclusive importer and distributor of Haworth's Comforto chair lines and, earlier this year, became the Haworth office systems distributor for France.
According to Haworth's President and Chief Executive Officer Richard G. Haworth, the company's investment in Mobilier significantly strengthens Haworth's distribution capabilities and manufacturing base in France.
"It is Haworth's strategy to provide high quality products and a high level of service through an international presence in major markets around the world. With this alliance, we strengthen our long-term relationship and the potential to build on the strengths of both companies," he said.
Major Haworth acquisitions and investments outside the U.S. include:
-- Comforto, an internationally recognized European office seating manufacturer based in Germany, was acquired in 1988. Comforto has international manufacturing and distribution outlets.
-- Kinetics, a manufacturer of high-style modern office furniture and office and public seating based in Toronto, Canada, was acquired in 1990.
-- Earlier this year, Haworth made a major investment in Cortal and Seldex, the leading office furniture manufacturers in Portugal. Cortal and Seldex also have significant distribution in Spain. Haworth's new relationship with Mobilier will be directed by Manfred von Prondzinski, Haworth's vice president, European operations.
Based in Holland, Haworth had 1990 sales of more than $600 million. Worldwide, Haworth has more than 4,500 members (employees) and 50 manufacturing and showroom locations.
/CONTACT: Monica Ginsburg, 312-280-2196, or Andy Golub, 312-649-6913, both for Haworth/ CO: Haworth Inc.; Mobilier International ST: Michigan IN: SU: TNM TS -- NY016 -- 6259 11/22/91 09:25 EST