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CARTHAGE, Mo., and ROCKVILLE, Md. -- March 15, 2005 -- NextLinx Corporation, the leading provider of global trade content and management solutions, is implementing its Trade Import solution at Leggett & Platt, a Fortune 500 diversified manufacturer of engineered components and products, to effectively manage its importing process and reduce procurement costs while enabling real-time collaboration with its global suppliers.
Supporting Leggett & Platt's initiative to centralize its global procurement operations, the NextLinx Trade Import solution will provide end-to-end visibility of the trade information used in processing entries through Customs. The solution will provide Leggett & Platt's leading broker, A.N. Deringer, with pre-validated entry data and automatic shipping documentation for its network of global suppliers and carriers. Additionally, Leggett & Platt expects to maximize opportunities for reducing costs in the Customs entry process as well as improve overall operational efficiency by increasing its workload without an increase in workforce.
"Leggett & Platt plans to seamlessly integrate the NextLinx Trade Import solution into its enterprise procurement software in order to capture and review a complete audit trail of all import transaction activities," according to John Wainwright, Customs Compliance Manager for Leggett & Platt. Mr. Wainwright goes on to state, "this audit trail will encompass the wide range of information necessary to help ensure compliant Customs processing on the part of every import shipment made through the system."
"Leggett & Platt truly understands the need for consistent Customs compliance and selected NextLinx for its superior functionality in helping to manage the entire import function within their organization, from pre-entry to Customs to post-entry," said Rajiv Uppal, founder, president and CEO of NextLinx Corporation. "By leveraging a Web-based environment, NextLinx solutions will allow Leggett & Platt's trading partners to share information and best practices that will streamline both the import and brokerage functions while expediting the trading process."
Wally Krey, President of Leggett & Platt Global Services, remarked "by implementing an integrated international purchasing system we are assuring that Leggett & Platt is maximizing its efforts to conduct its international procurement activities in a compliant manner."
About Leggett & Platt
Leggett & Platt (NYSE: LEG) is a Fortune 500 diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in virtually every home, office, retail store, and automobile. The company serves a broad suite of customers that comprise a "Who's Who" of U.S. manufacturers and retailers. The 121-year-old firm is composed of 29 business units, 33,000 employee- partners, and more than 300 facilities located in 20 countries. Leggett possesses the second-best Fortune 500 dividend growth record (90-fold growth via 33 consecutive annual increases at 15% CAGR), has grown sales and earnings at a 15% annual average since going public in 1967, consistently posts top half performance among the Fortune 500, and sets a high standard for financial transparency and quality of earnings (including overfunded aggregate pension plans, and expensing of stock options).
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