Cleaning & Restoration Breaking News

Furniture Maker Buys Cushion Unit

September 13, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
CARTHAGE, Mo. (AP) - Furniture maker Leggett & Platt Inc. plans to sell or close five plants and acquire the carpet cushion business of Foamex International.

Leggett & Platt will sell the Culp Aluminum Alloys plant in Steele, Ala., to Wabash Alloys of Wabash, Ind., and an aluminum tool-and-die plant in Oakdale, Minn., to an undisclosed purchaser. Wabash said it will retain all 60 employees of Culp Aluminum. The Oakdale plant also employs 60 people.

The company said it will idle a commercial fixture plant in Wooster, Ohio, that employs 100 workers and makes parts for the telecommunications industry.

"Our hope is that as the telecom business comes back, and it might take a while, we would like to start that plant back up," company executive Dave DeSonier said Friday.

The company is negotiating to sell an unidentified aluminum die-cast plant and plans to idle another undisclosed plant. DeSonier said the company expects to make announcements on both locations by Sept. 30.

Selling or closing the five plants is expected to cost Leggett & Platt between $11 million and $13 million. The five plants employ 350 people out of the company's overall work force of about 32,000 worldwide.

In a statement, Linwood, Pa.-based Foamex said it will sell its carpet cushion business for about $70 million. The deal will make Leggett & Platt the world's largest producer of carpet cushion, with projected annual revenues of almost $400 million.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Most cleaners rely on their online marketing presence to get jobs. But Google hasn't made things easy lately with their algorithm updates, which has impacted a lot of cleaning sites. Here's a look at some tips and suggestions to improve your Google ranking.
More Podcasts

ICS Cleaning Specialist Magazine

Cover Image

2014 June/July

The June/July issue of ICS features stories on add-on services, carpet repair, cleaning silk rugs and ranking websites on Google.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo