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CollinsandAikman Announces Expiration Of Tender Offer

DALTON, Ga., Jan. 29 /PR Newswire/ -- Collins and Aikman Floor coverings Inc.announced that it has successfully completed its tender offer and consent solicitation for its outstanding 10% Senior Subordinated Notes due 2007 and Series B 10% Senior Subordinated Notes due2007. As of 9:00 a.m., New York City time, on Thursday, January 25, 2001, the scheduled expiration for the Offer, $84,750,000 in aggregate principal amount of the Notes had been validly tendered pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement, dated December 19, 2000. The Company has accepted for payment and promptly will pay for all Notes validly tendered in the Offer. Credit Suisse First Boston ("CSFB") acted as Dealer Manager and MacKenzie Partners, Inc. served as the Information Agent in connection with the Offer. An international manufacturer and supplier of high-performance commercial carpeting for the corporate, health care, education, government, and retailing sectors, the Company is renowned for pioneering the development of environmentally responsible products. The Dalton, Georgia-based company produces floor coverings that last up to three times longer than convention al carpeting, and remains the first and only manufacturer to make a 100 percent recycled-content vinyl backing, ER3. In June 1999, the Company merged with Monterey Carpets, a California-based manufacturer of high-end, award winning designs in broadloom carpet for the corporate, retail store planning, and institutional markets. This was followed by the acquisition of Nova Scotia-based Crossley Carpet Mills, in July 1999, continuing the Company's international growth strategy and enabling it to better serve the Canadian market. The Company is a leading producer of modular carpet tile and the number one producer of six-foot roll carpet.SOURCE Collins and Aikman Floor coverings, Inc.Copyright 2001 PR News wire