Leggett & Platt buys five companies

Carthage-based Fortune 500 company Leggett & Platt has bought five companies, expected to add approximately $85 million to annual revenues, according to PR Newswire.
The acquisitions include two in China, the article said.
According to the article:
"The company also is acquiring a store fixtures manufacturing facility in
Shanghai, China. This facility, which has been a key supplier to Leggett's
U.S. operations, manufactures a broad line of retail store fixtures and
gondola shelving. Its acquisition will enhance Leggett's production of store
fixtures by about $20 million; however, since nearly all of the facility's
product is sold to Leggett & Platt for distribution in the U.S., near-term
annual sales revenues will be unchanged.
"Acquisition of this facility gives Leggett a well-developed operating
presence in China from which to serve the growing domestic Chinese market,
while continuing to meet existing U.S. demand. The operations include full
steel fabrication resources, and both powder coating and chrome plating finish
capability. The facility is modern (built in 2000), expandable, and
well-situated to serve key Leggett customers. It offers an Asian base to
expand L&P's capability in gondola, wire, and wood manufacturing. The
facility has approximately 460 employees, and runs two shifts per day."
The article continues:
"Leggett recently acquired a motion furniture mechanism business in the
city of Jia Jiang, northwest of Shanghai. This operation complements
Leggett's existing plant, located southwest of Shanghai, which began producing
furniture mechanisms in the spring of 2003. This new acquisition should add
over $10 million in annual revenue to the Home Furniture & Consumer Products
group within the Residential Furnishings segment. With this acquisition, and
the pending completion of a new facility in southern China, Leggett will have
three mechanism manufacturing locations in China by the end of 2005."