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Ansell (ANSL) Implements $100 Million Restructuring After Sale of Condom Biz



7/20/2017 8:13:52 AM

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July 20 (Reuters) - Australian rubber products maker Ansell Ltd announced writedowns and a restructuring on Thursday following the sale of its flagship condoms business two months ago.

Ansell said it will spend $70 million to $100 million over three years to reorganise its supply chain, merge its single-use and medical divisions into a "healthcare" unit and find other cost savings.

It also announced non-cash asset write downs of $20 million to $30 million related to the closure of some "smaller, less efficient" production lines.

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