Playtex Announces Restructuring Program

Playtex Products, Inc. announced a restructuring plan in which it will focus on its core segments of feminine, infant and skin care products. According to the company, the new realignment plan will cut costs by $12-14 million this year and $22-24 million by 2006. Playtex said its previous restructuring plan, which began in 2003, will lead to cost savings of $34-38 million by 2006.

“Our goal over the next three to four years is to build profits as expressed to at least $200 million versus our 2004 adjusted earnings of $121 million,” commented Neil P. DeFeo, chief executive. “This is an aggressive goal, but one we are committed to achieving through the business growth and cost savings work already begun.”