Brief: Leggett & Platt Announces Restructuring Plan To Drive Improved Performance And Profitable Growth

Leggett & Platt

16/01/2024 12:03

Jan 16 (Reuters) - Leggett & Platt Inc  LEG.N :
    * LEGGETT & PLATT ANNOUNCES RESTRUCTURING PLAN TO DRIVE
IMPROVED
PERFORMANCE AND PROFITABLE GROWTH
    * LEGGETT & PLATT INC: WITHDRAWING COMPANY'S LONG-TERM
FINANCIAL
TARGETS
    * LEGGETT & PLATT INC: RECORDING AN ESTIMATED $450 MILLION
LONG-LIVED ASSET IMPAIRMENT CHARGE IN 4Q23
    * LEGGETT & PLATT INC: PLAN INITIATIVES EXPECTED TO GENERATE
$40
TO $50 MILLION OF ANNUALIZED EBIT BENEFIT WHEN FULLY IMPLEMENTED
IN LATE 2025
    * LEGGETT & PLATT INC: REDUCING MANUFACTURING AND
DISTRIBUTION
FOOTPRINT OF 50 FACILITIES TO ABOUT 30 TO 35 FACILITIES
    * LEGGETT & PLATT INC: INITIATIVES ARE EXPECTED TO REDUCE
ANNUAL
SALES BY APPROXIMATELY $100 MILLION
    * LEGGETT & PLATT INC SEES ABOUT $60 TO $80 MILLION IN NET
CASH
PROCEEDS FROM SALE OF REAL ESTATE ASSOCIATED WITH INITIATIVES
    * LEGGETT & PLATT INC: NOT CHANGING OBJECTIVES OF CURRENT
DIVIDEND
PRACTICES

Source text for Eikon:  ID:nPn2znKf2a 
Further company coverage:  LEG.N 

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