Leggett & Platt Sells Fibers Business

November 24, 2008  by in UnCategorized   

By Home Furnishings Business in Bedding on November 2008 Leggett & Platt, Carthage, Mo., has completed the sale of its $100 million Polyester Fibers unit to an affiliate of Empire Investment Holdings, Miami, which acquires and runs non-core business units from Global 2000 companies.

The Polyester Fibers unit makes high-loft non-woven materials used in bedding, furniture and filtration products. The sale price was not disclosed in a press release issued by Empire Investment Holdings Monday. Polyester Fibers’ four operating units include Tupelo Fibers, Cumulus Fibres, Cameo Fibers and Buffalo Batt. The 450-employee company has nine manufacturing plants and two distribution centers with more than 1 million square feet. It also has strategic partnerships with four factories in China.

Monday’s announcement said the new owners of Polyester Fibers will continue to operate the business as four distinct operating units, each of which will have its own management team.