Chinese furniture maker and IKEA supplier Liaoyang Ningfeng Woodenware Co. Ltd. will invest $2.1 million to establish its first U.S. subsidiary, New Ridge LLC, in Smyth County, VA.The venture will create 125 jobs in the area.
Governor Bob McDonnell announced that Liaoyang Ningfeng Woodenware Co. will invest $2.1 million to establish its first U.S. subsidiary, New Ridge, LLC, in Smyth County, VA.
Although it is not the largest market segment for wood turnings and parts, furniture components remains a steady source of business for North American component manufacturers.
Diversified manufacturer Leggett & Platt reported fourth quarter earnings per diluted share of $.21. In the fourth quarter of 2009, earnings from Continuing Operations were $.26 per share.