Leggett & Platt Completes Divestiture Program

Today, Leggett & Platt LEG announced that it has sold its Storage Products business to SPG International, LLC. The sale completes the divestiture program, a significant part of the company's strategic realignment first introduced to investors in November 2007. Since implementation of the new strategy, Leggett has sold seven business units for a combined $433 million of after tax cash proceeds, exceeding the original $400 million goal. The divestiture program has reshaped Leggett & Platt by narrowing the company's primary focus to businesses with distinct competitive advantages, value-added engineering and manufacturing operations, and significant barriers to entry.