Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, February 23, 1994 TAG: 9402230045
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE: MAG POFF
DATELINE: LENGTH: Medium
Unilever, an international consumer products conglomerate, on Tuesday announced a major restructuring that will cost about $737 million. The changes will concentrate on its Europeam operations. In the United States, they will affect principally Unilever's detergents operations, said New York spokesman John T. Gould Jr.
Elizabeth Arden Co., he said, is a prestige line that "would not be considered as part of that . . . That does not include Elizabeth Arden."
"It will not affect Roanoke. It's not related to us here in Roanoke," said Donald Hergrueter, manager of the Roanoke operations. About 675 people work at the Roanoke manufacturing and distribution center, he said.
Elizabeth Arden already has done extensive restructuring over the past two years, he said.
The company's announcement, part of its 1993 earnings report, said the project will save about $360 million annually when it is completed in three years. It will encompass 60 projects in 20 countries.
Unilever said its 1993 profit, influenced by the strong U.S. dollar, fell 3 percent to $2.305 billion before the restructuring charges. Sales declined 4 percent to $41.878 billion.
Earnings, after subtraction of the $737 million restructuring figure, dropped 15 percent to $1,949 million.
In North America, personal products did particularly well, and industrial volumes benefited from recovery of the economy toward the end of the year. Sales and profits advanced strongly in the rest of the world. In personal products, the company said, volumes and profits increased sharply, led by strong performances in skin care, dental and prestige categories.
by CNB