Interface, Inc.

Interface, Inc.
Public
Traded as NASDAQ: TILE
S&P 600 Component
Industry Textile industry
Founded LaGrange, Georgia (1973)
Founder Ray C. Anderson
Headquarters Atlanta, Georgia
Area served
 Americas, Europe, Asia-Pacific
Key people

Daniel T. Hendrix
(Chairman, President, CEO 2001–2017)[1]

Jay Gould (CEO, 2017)[2]
Products
  • Modular carpet tile
  • Luxury vinyl tile (LVT)
Revenue Increase US$ 996.4 million (2017)[3]
Increase US$ 109.8 million (2017)[3]
Decrease US$ 53.2 million (2017)[3]
Total assets Decrease US$ 800.6 million (2017)[4]
Total equity Decrease US$ 330.09 million (2017)[4]
Number of employees
 3,092 (2017)
Subsidiaries FLOR
Website www.interface.com

Interface, Inc., is the world's largest manufacturer of modular carpet for commercial and residential applications. It was founded in 1973, and is based in Atlanta, Georgia.[5]

Historical

In 1973, Carpets International was founded by Ray Anderson. In the same decade, Interface introduced GlasBac, a patented structured backing system that has become the industry standard for high-performance modular backings. They also introduced Intersept, a proprietary antimicrobial preservative.

  • In 1982, Carpets International becomes Interface Flooring Systems, Inc, and Compact Carpet of Canada was acquired and named Interface Flooring Systems Canada, Inc.
  • In 1994, Interface began designing products utilizing a "Less is More" philosophy, and reduces average consumption of fiber by 10% per square yard in just 12 months. That year founder Ray Anderson read Paul Hawken's book The Ecology of Commerce, and then delivered his first environmental speech, which began Interface's journey to sustainability. Interface then launched ReEntry, a carpet reclamation program.
  • In 1998, Interface introduced a carpet tile product made with 100% recycled nylon face fiber and a layer of 100% recycled vinyl material in the backing. The company also introduced NexStep polyurethane cushion backing. Interface introduces the Portable Creel System, resulting in yarn savings of one million dollars per year.
  • In 1999, Interface introduced the first online product catalog for carpet - TheSampleCenter.com.
  • In 2003, Interface becomes the first carpet company to receive Environmentally Preferable Product (EPP) certification for its products and the first company to introduce Climate Neutral product offering through its Cool Carpet program. The company also announced a partnership with Tricycle Inc. to dematerialize their product development and sampling processes on a global basis.
  • In 2008, Interface sold its commercial upholstery fabrics division and took a huge write-down.

Products

Interface and its subsidiaries manufacture modular carpet and luxury vinyl tile.[6]

  • In 2015, Interface introduced Skinny Planks, 25 x 100cm carpet planks that can be used to create similar patterns to those found on timber or vinyl flooring [7]
  • In 2017, Interface announced it was entering the hard surface flooring category with a line of luxury vinyl tile or "LVT" [8]
  • Interface's i2 is inspired by Biomimetics a science based on the wisdom of nature. The line of carpet and LVT tiles features a random, nondirectional pattern and gradations of colors [9]


Company information

Interface sells commercial and residential carpets. Its founder and chairman, Ray Anderson, was featured in the documentary film The Corporation discussing environmental sustainability in modern business. Interface's initial innovation was manufacturing "the first free-lay carpet tiles in America".2 Then, starting in 1994, Interface focused on environmental sustainability, especially in reducing the use of petroleum.[10] Since 1996, Interface chose to adopt an innovation-based green strategy.[11] In a short period, it managed to reduce its impact on the environment by one third[10]. In 2006, Interface announced a program called Mission Zero with a goal of eliminating any negative impact the company may have on the environment by 2020.[12]

On May 9, 2007, Interface was recognized as Recyclers of the Year by the Carpet America Recovery Effort (CARE).[13] Interface was voted number one in Globespan's survey of environmentally sustainable businesses.[14] They are also the recipient of The Queen's Award for Enterprise: Sustainable Development (Environmental Achievement) (2008).

Consumer advocate Ralph Nader has heralded Ray Anderson and Interface for their sincere commitment to sustainability and protecting the planet's natural resources.[15]

FLOR

FLOR manufactures carpet squares or carpet tiles. The squares are unlike conventional rolled carpeting, as they can be easily removed or replaced.[16]

Heuga Home Flooring

Heuga Home Flooring is a European carpet company and a division of Interface. The company is headquartered in Scherpenzeel, Gelderland.[17]

References

  1. ↑ Interface, Inc. Board of Directors
  2. ↑ New Interface CEO Gould gets company's unique culture
  3. 1 2 3 Interface, Inc. "SELECTED FINANCIAL DATA". U.S. Securities and Exchange Commission.
  4. 1 2 Interface, Inc. "SELECTED FINANCIAL DATA". U.S. Securities and Exchange Commission.
  5. ↑ "Interface Americas". Interface.
  6. ↑ "Floor Designs". Interface.
  7. ↑ "Skinny Tile". Corporate Workspace.
  8. ↑ "LVT". Floor Covering Weekly.
  9. ↑ "i2 Modular Carpet". AskNature.org.
  10. 1 2 "Sustainable Growth – Interface, Inc". Fast Company. March 31, 1998. Retrieved May 8, 2018.
  11. ↑ Lampikoski, T (2012), "Green, Innovative, and Profitable: A Case Study of Managerial Capabilities at Interface Inc.", Technology Innovation Management Review (November): 4–12
  12. ↑ "Inside Interface's bold new mission to achieve 'Climate Take Back'". GreenBiz.
  13. ↑ "Press Release: Carpet Cycle, InterFace Flor Named CARE Recyclers of the Year, Moot Honored As CARE Person of the Year, Annual Report Released". Carpet America Recovery Effort. May 9, 2007. Retrieved July 15, 2009.
  14. ↑ Ellis, Tania (2010). The New Pioneers: Sustainable business success through social innovation and social entrepreneurship. John Wiley & Sons (via Google Books). p. 41. ISBN 9780470971314.
  15. ↑ "Seeking Sustainability". Carpet America Recovery Effort. May 10, 2013. Retrieved June 7, 2013.
  16. ↑ "Who We Are". FLOR.
  17. ↑ "About Heuga". Heuga Home Flooring.
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