Colgate revises restructuring expectations
This article was originally published in The Rose Sheet
Executive Summary
The 2004 Restructuring Program is progressing on schedule, Colgate-Palmolive execs say during April 25 first-quarter analyst call. Announced in December 2004, the four-year restructuring program was expected to deliver ongoing savings of $250 mil. to $300 mil. after tax, annually, by 2008 (1"The Rose Sheet" Dec. 13, 2004, p. 4). However, the company has since identified additional savings projects that allow the firm to save an additional $50 million after-tax, execs note. Consequently, the company has revised its savings projections, now saying the program will result in $300 mil. to $350 mil. in savings after-tax. Colgate adds that it plans to obtain these additional savings without extending the length of the program beyond its anticipated completion date of Dec. 31, 2008...