Leggett & Platt
| Public | |
| Traded as | : LEG S&P 500 Component |
| Industry | Residential Bedding and Furniture Automotive Seating Industrial Materials |
| Founded | 1883 |
| Headquarters | Carthage, Missouri, United States |
|
Key people
|
Karl G. Glassman, President & CEO |
| Revenue |
 $3.9 billion USD (2015) |
|
$487 million USD (2015) |
|
|
$325 million USD (2015) |
|
|
Number of employees
|
20,000 (2015) |
| Website | leggett |
Leggett & Platt (L&P), based in Carthage, Missouri, is a diversified manufacturer (and member of the S&P 500 Index) that designs and produces various engineered components and products. The firm was founded in 1883, and consists of 17 business units, 20,000 employee-partners, and 130 manufacturing facilities located in 19 countries.
Leggett & Platt also produces and distributes carpet cushion for residential and commercial applications. In addition, they are a major distributor of geo components used in ground stabilization, drainage protection, erosion control, and weed control.
Leggett & Platt is the world's leading independent manufacturer of proprietary chair controls, bases, and other components for work furniture. In addition, they produce select lines of private-label finished furniture. They are also a leading supplier of adjustable beds and fashion bed products, which are sold primarily to bedding retailers and major bedding producers.
Leggett & Platt is a producer of drawn steel wire. The company's three wire mills produce virtually all of the wire consumed by their other domestic business, as well as supplying external customers. Much of the steel rod used to produce this wire is manufactured in Leggett & Platt's own rod mill. They also produce and distribute wire products for various industrial applications.
Leggett & Platt is a designer and manufacturer of automotive seating support, pneumatic and mechanical lumbar systems. They are also a supplier of titanium, nickel, and stainless steel tubing to the aerospace industry. It is a supplier of service van interiors and computer docking stations used in commercial vehicles.
As of January 2016, senior corporate executives included:
In 1883 in Carthage, Missouri, J.P. Leggett developed a new type of bedspring consisting of single cone spring wire coils, formed and interlaced, then mounted on a wood slat base. The bedspring could then be used as a base for the then-popular cotton, feather or horsehair mattresses. Needing expertise in manufacturing and production, he recruited his soon-to-be brother-in-law, C.B. Platt, whose father owned and operated Platt Plow Works, into the partnership. Together, they produced the components of their Leggett & Platt bedspring, which was patented in 1885.
The Carthage market for their new product was very limited. To expand the market to a wider region, Mr. Platt and George Leggett, brother of J. P. Leggett, would load a horse-drawn wagon with bedsprings and travel to surrounding communities. Often, to conserve space, they would load the springs and slats separately into the wagon and assemble them in a store or on an adjacent sidewalk. The partnership prospered, and the business was incorporated in 1901.
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Wikipedia