General discussion, page-696

In response to the question about Leggett and Platt….

Leggett and Platt is the leading US manufacturer of bedding components. A glance at the Exhibitor floor plan for the current ISPA Expo (the biennial exhibition for the global bedding industry) provides some idea of the company’s scale. The three booths occupied by Leggett and Platt and two of its subsidiary companies (Leggett and Platt Bedding, Global Systems Group and Spuhl GMBH) take up 16,900 sq. ft. of floor space, dwarfing in size Alexium’s 100 sq. ft. booth.

Founded in 1883 upon the invention of the bed spring, Leggett and Platt is now made up of 14 business units and has 120 facilities in 18 countries. It is an S &P 500 diversified manufacturer company with a market cap of $6.27 bn. I note that Robert Culp, Founder and Chairman of Culp, Inc. serves on the Leggett and Platt Board.  Leading mattress manufacturer Culp has been mentioned before here and here.

One of Leggett and Platt’s business units is bedding (LP Bedding and LP International Bedding) with the focus on innersprings and structural layers. Customers include Serta, Simmons, Tempur Sealy, Select Comfort Mattress Firm and Corsicana. A separate business unit is fabric and carpet cushion. The fabric division is said to dye, finish and convert (cut to various sizes) textiles into components used by manufacturers of bedding, upholstered furniture, and home furnishings accessories.

Subsidiaries within L&P’s fabric and carpet cushion unit include the Hanes Companies, which were acquired by L & P in 1993. Hanes Companies Inc. is described as a diverse supplier, converter, and distributor of a variety of products and services in multiple markets across North America and Europe. It advertises that it is a single source for woven, nonwoven, knit and industrial materials, including a vast array of dye and finish services.

Hanes Bedding division claims to be the world leader in the supply of fabrics and supplies to leading bedding manufacturers, with locations in the United States, Mexico, UK and Australia. Its advertised range of supplies include non-woven fabrics, flame retardant barriers and ticking, water resistant and anti-microbial fabrics and coated and laminated composites.

Hanes Dye and Finishing Company, which is located in North Carolina, is one of the largest dye and finishing plants in the U.S. and provides services to both the home furnishings and apparel industries. It has the capability to apply a variety of topical finishes – including water-repellent, fire-retardant, permanent press, and antimicrobial finishes – to cotton, polyester, and poly-cotton blends. It can also finish fabrics to adjust features such as lustre and control of air porosity. One customer is neighbouring Hanesbrands, to which it provides dye and finishing services for underwear and activewear.  Hanes Dye and Finishing also provides laboratory testing services to the textile industry. It advertises on its website that it is certified by the US Defense Supplier and Procurement Center for testing in most U.S. government and military applications.

So where does that leave Leggett & Platt in correlation with Alexium?

That’s an interesting question to ponder, asdzxc.