La-Z-Boy to restructure, close three plants. (Trends & News).In a major reorganization of its Casegoods Group, La-Z-Boy
1 Industrial city (1990 pop. 54,909), seat of Ouachita parish, SE La., on the Ouachita River; founded c.1785, inc. as a city 1900. The center of the great Monroe Natural Gas Field (discovered 1915), it has important chemical plants, as well as , MI, will close three of its 12 U.S. casegoods plants. The company will close two La-Z-Boy plants in Morristown Morristown. 1 Town (1990 pop. 16,189), seat of Morris co., N N.J., on the Whippany River; settled c.1710, inc. 1865. Although chiefly residential, it has diverse manufactures, including electronic products, health and beauty aids, auto parts, and , TN, and one in Monroe, NC, affecting about 480 manufacturing jobs. The company will close its Lea Industries plants #4 and #5 by Aug. 15, eliminating 330 jobs. The Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York House upholstery upholstery, general term for household fittings, hangings, curtains, cushions, and covers. It refers to stuffed, padded, and spring-cushioned furniture, such as chairs and sofas, or to the usually decorative materials and fabrics that cover them. plant in Monroe, NC, will close as of Aug. 29, eliminating 150 jobs. About 75 positions will be created at other La-Z-Boy facilities. Remaining facilities will not necessarily produce furniture for any one particular subsidiary's brands. Rather, plants may produce product for several different brand names. The company said the Morristown, TN, warehousing and shipping facilities will continue to operate. Imported casegoods will now be coordinated through the newly formed La-Z-Boy Global Ltd., which will be headed by former Lea Industries President Lamont Hope. La-Z-Boy Global will also aid the company's Upholstery Group with certain sourcing operations. "Imports represented about 31% of our total casegoods sales in fiscal 2003, up from 21% last year, and we are projecting a nearly 40% import rate in fiscal 2004," said Jerry Kiser, La-Z-Boy Inc. president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . La-Z-Boy has sales in excess of $2 billion annually. Casegoods Group companies are Alexvale, American Drew, American of Martinsville, Hammary, Kincaid, Lea and Pennsylvania House. |
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