Colgate Announces Sale of Its Southeast Asian Laundry Detergent Brands
January 03 2006 - 10:30PM
PR Newswire (US)
NEW YORK, January 3, 2006 /PRNewswire-FirstCall/ --
Colgate-Palmolive Company (NYSE:CL) announced today the sale of its
Southeast Asian heavy-duty laundry detergent brands, marketed in
Thailand, Malaysia, Singapore and Hong Kong, to the Procter &
Gamble Company effective December 31, 2005. The transaction
includes the sale of the detergent brands Fab, Trojan, Dynamo and
Paic. As a consequence of this sale, two detergent dedicated
factories will be closed or modified in conjunction with the
Company's previously announced Restructuring Program. Reuben Mark,
Colgate's Chairman and CEO said, "This sale is part of Colgate's
ongoing strategy to de-emphasize and eliminate low-margin portions
of the business while focusing on our high-margin, fast-growing
oral, personal and pet care businesses." It is expected that the
net one-time gain resulting from the transaction will approximate
and be fully offset by previously disclosed fourth quarter
restructuring charges under the Company's 2004 Restructuring
Program. Mr. Mark concluded, "This simplification of our portfolio
will increase gross profit margin in our Asia/African division and
will allow even greater focus on our strong and highly profitable
oral, personal and pet care businesses." *** Colgate-Palmolive is a
leading global consumer products company, tightly focused on Oral
Care, Personal Care, Home Care and Pet Nutrition. Colgate sells its
products in over 200 countries and territories around the world
under such internationally recognized brand names as Colgate,
Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso,
Kolynos, Elmex, Ajax, Axion, Soupline, and Suavitel, as well as
Hill's Science Diet and Hill's Prescription Diet pet foods. For
more information about Colgate's global business, visit the
Company's web site at http://www.colgate.com/. This press release
(other than historical information) may contain forward-looking
statements. Actual events or results may differ materially from
those statements. Investors should consult the Company's filings
with the Securities and Exchange Commission (including the
information set forth under the caption "Cautionary Statement on
Forward-Looking Statements" in the Company's Form 10-K for the year
ended December 31, 2004) for information about factors that could
cause such differences. Copies of these filings may be obtained
upon request from the Company's Investor Relations Department or
the Company's web site at http://www.colgate.com/. DATASOURCE:
Colgate-Palmolive Company CONTACT: Bina Thompson, +1-212-310-3072,
or Hope Spiller, +1-212-310-2291, both of Colgate-Palmolive Company
Web site: http://www.colgate.com/
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