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Cussons To Downsize in Russia

December 9, 2005

RUSSIA: Household cleaning products manufacturer PZ Cussons will reduce operations in Russia and concentrate on Poland. The fall of the ruble against Polish currency made distribution difficult for the company. First half losses in Russia came to more than $5 million The company is also selling its Chinese unit, which has been losing money for several years. The Russian losses led to a 4% drop in overall first half profits. Pretax profit was almost $47.5 million for the six months to November 30,2004 compared to more than $49 million in the previous year’s first half.

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