NATCO HOME  ACQUIRES
CANADIAN MAT COMPANY
MULTY INDUSTRIES

WEST WARWICK, RI -- The Natco Home Group has purchased Multy Industries Inc. of Corcord, Ontario, the leading Canadian manufacturer of indoor and outdoor mats, runners and other related flooring items. 

For the past six months,  Multy has been in the Canadian CCAA process, which allows a Canadian company to restructure and reorganize. The asset purchase was  approved by a Canadian court on Nov. 13, 2008 and Multy’s assets were sold to the Natco Home Group on Nov. 21, 2008.

The new company will be called Multy Home. It will maintain offices, manufacturing and distribution sites in Canada and will continue to service all of it’s North American customers. 

Multy Home will operate as a subsidiary of Natco Home Fashions. Derek Erdman, Multy Industries president, will continue in his position with Multy Home , as will the rest of Multy’s Canadian based management team.

The Natco Home Group  has positioned itself as a total home fashions resource offering woven, printed and handmade rugs, carpet remnants, vinyl flooring, curtains, decorative pillows and mats, chair pads, tablecloths, kitchen accessories, shower curtains, furniture covers, throws, and bedding covering a variety of distribution channels in the United States and Canada.   

"The acquisition of Multy Industries will enhance the current Natco Home assortment and will expand its presence in the North American and International marketplace," according to the company.

"We are extremely excited about bringing Multy Home under the Natco Home Group of companies, " said Alan Ross, chief operating office of Natco Home Group. "Multy Home adds utilitarian flooring lines to our range of flooring products and provides an interesting business platform for all of our existing products in Canada."

 Ross noted that the Natco Home Group does not have a significant Canadian market presence.

"Representatives from both Natco Home and Multy Home are excited about this transaction and the breath and depth of product and services that the merger will create," according to the company.

The Natco Home Group is the parent company of Central Oriental, which manufactures and imports rugs.

11.26.08