Leggett & Platt, Inc. LEG

Leggett & Platt, Incorporated, incorporated on February 23, 1901, is a diversified manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Company's brands include ComfortCore, Mira-Coil, VertiCoil, Quantum, Nanocoil, Softech, Lura-Flex, Superlastic and Active Support Technology, which includes mattress innersprings; Semi-Flex, which includes box spring components and foundations; Spuhl, which includes mattress innerspring manufacturing machines; Wall Hugger, which includes recliner chair mechanisms; Super Sagless, which includes motion and sofa sleeper mechanisms; No-Sag, which includes wire forms used in seating; LPSense, which includes capacitive sensing; Hanes, which includes fabric materials; Schukra, Pullmaflex and Flex-O-Lator, which includes automotive seating products, and Gribetz and Porter, which includes quilting and sewing machines.

Residential Furnishings

Residential Furnishings segment manufactures steel coiled bedsprings. It supplies a range of components used by bedding and upholstered furniture manufacturers in the assembly of their finished products. Its product categories include bedding group, furniture group, and fabric and carpet cushion group. Its bedding group includes innersprings, such as sets of steel coils, wire forms for mattress foundations and machines. Its furniture group includes Steel mechanisms and hardware, which enable furniture to recline, tilt, swivel, rock and elevate for reclining chairs and sleeper sofas, and springs and seat suspensions for upholstered furniture. Its fabric and carpet cushion group includes structural fabrics for mattresses, residential furniture and industrial uses; carpet cushion made from bonded scrap foam, fiber, rubber and prime foam, and geo components, such as synthetic fabrics and various other products used in ground stabilization, drainage protection, erosion and weed control. Its customers include manufacturers of finished bedding (mattresses and foundations) and upholstered furniture; retailers and distributors of carpet cushion, and contractors, landscapers, road construction companies and government agencies using geo components.

Commercial Products

In the Company's Commercial Products segment, it designs, manufactures and distributes a range of components and finished products for the office seating and specialty retail markets. It provides adjustable beds and fashion beds, with domestic manufacturing and distribution capability, as well as relationships with global sources. The Company's work furniture group offers bases, columns, back rests, casters and frames for office chairs, and control devices that allow office chairs to tilt, swivel and elevate, select lines of private label finished furniture, and Molded plywood components. Under the consumer products group, it offers fashion beds and bed frames, and adjustable beds. Its customers include office furniture manufacturers, and mattress and furniture retailers.

Industrial Materials

As of December 31, 2016, the Company's wire group operated a steel rod mill with an annual output of approximately 500,000 tons. As of December 31, 2016, it had over three wire mills that supply wire consumed by its other domestic businesses. The Company's steel tubing business unit also supplies steel wire to external customers that operate in a range of markets. The products under wire group include drawn wire, fabricated wire products and steel rod. The Industrial Materials segment's customers include bedding producers; mechanical spring manufacturers and Wire distributors.

Specialized Products

Specialized Products segment designs, manufactures and sells products, including automotive seating components, tubing for the aerospace industry, specialized machinery and equipment, and service van interiors. Its product categories include automotive group, aerospace products group, machinery group and commercial vehicle products group. The products under automotive group are mechanical and pneumatic lumbar support and massage systems for automotive seating; seat suspension systems; Motors and actuators, and Control cables. Products under the aerospace products group include titanium, nickel and stainless steel tubing, formed tube and tube sub-assemblies. The machinery group's products include a range of quilting machines for mattress covers, and industrial sewing or finishing machines. The commercial vehicle products group's products include van interiors, such as the racks, shelving and cabinets installed in service vans. Its customers include automobile seating manufacturers and original equipment manufacturer (OEM); aerospace suppliers; bedding manufacturers, and telecommunication, cable, home service and delivery companies.