|Transcription||Mohawk Sees Banner Year At Hudson Groundbreaking
By JOSEPH E. KUEBLER
Beacon Journal Business Editor
Mohawk Rubber is winding up a record-busting year, President Henry M. Fawcett noted Tuesday as company officials broke ground for an executive office building in Hudson.
Both earnings and sales will be the highest in the firm's 59-year history, he said.
"WE ANTICIPATE our
sales and profits will exceed by a wide margin our best efforts to date" Fawcett commented.
"This will be the 18th consecutive year that our sales have exceeded the preceding year's total" he added.
At the end of nine months, earnings amounted to $2,553,000 or $2.33 a share, 42 pct. above the previous high reached in 1971. Sales were up 11 pct. to $80,576,000.
THE NEW two-story headquarters will be erected on an 8.2 acre site in Hudson's Executive Office Park off Boston Mills rd.
It will cost more than $1.5 million and is scheduled for completion in November 1973.
Officials of Hudson Village, including members of the Village Council, and the Hudson Community Improvement Corp. joined in the groundbreaking. The latter is a private group named by council that will issue $2 million in industrial revenue bonds to finance the project.
THE 45,000-sq.-ft. office structure will be brick and will be of the same type architecture as the neighboring Allstate Insurance and Mid-Continent Telephone buildings.
The headquarters will be able to accommodate more than 125 employes. It will house in addition to the corporate offices the sales, accounting, data processing and purchasing departments as well as staff functions that apply to all Mohawk plants.
Participating in Tuesday's ceremony were W. T. Ernst, vice president and treasurer; P. E. Nicholson, vice president, sales, and J. W. Keener Jr., vice president- operations and secretary.
SPEAKING at a luncheon at the Reserve Inn after the groundbreaking, Ernst said this will be Mohawk's third office building, the first being a wooden structure attached to the original plant.
The present offices at 1235 Second av. will be converted for use by research development, traffic and other factory-related functions, now housed in rented quarters.
Fawcett said the record 1972 performance was especially timely as Mohawk marks the 60th anniversary of its founding next month.
FAWCETT added that the past decade highlighted the company's history, accounting for more than half the sales and profits produced since its founding in 1913.
Looking to 1973, he sees Mohawk's growth record continuing which "barring unforeseen developments, will result in new earnings and sales records."
PHOTO CAPTION: How Mohawk's new Hudson headquarters will look. |