In Brief: Bausch & Lomb
This article was originally published in The Gray Sheet
Bausch & Lomb: Plans to take a $15 mil. pre-tax restructuring charge in the second quarter as part of its ongoing expense-reduction program, the firm announces July 2. Roughly $5.5 mil. of the charge will go toward consolidation of B&L's 14 European distribution centers for contact lenses, solutions and sunglasses into three facilities over the next 16 months beginning in July. About $1.9 mil. will go toward reorganization of Asia-Pacific operations by dividing the business segment into North and South regions, B&L says. Formation of the previously planned "global vision care business" will cost $3.6 mil. ("The Gray Sheet" June 24, In Brief) and another $4 mil. will go toward "miscellaneous actions." In addition to the restructuring charge, B&L says it "will incur one-time period costs in the range of $5 mil. during the second half of 1996." Second quarter results are expected to be released July 18...
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