Bausch & Lomb sells its Oral Care business to CONAIR; The company will record a net loss of $6.3 million or $.11 per share.ROCHESTER, N.Y.--(BUSINESS WIRE)--Sept. 23, 1996--Bausch & Lomb (NYSE/BOL) today announced that it has completed the sale of its Oral Care Division to CONAIR, a privately held, New Jersey-based company that manufactures and markets personal care appliances, health and beauty products, kitchen appliances and telephones. The sale is another implementation step of Bausch & Lomb's strategy to focus its resources on the global company's core eye care businesses, which currently include contact lenses contact lenses contact npl → verres mpl de contact contact lenses contact npl → Kontaktlinsen pl contact lenses npl , lens-care solutions, premium sunglasses sunglasses A tinted pair of glasses used to ↓ light arriving at the eye, which are labeled according to the amount of UV light blocked; nonprescription glasses are classified according to use and amount of UV radiation blocked Sunglasses and ophthalmic ophthalmic /oph·thal·mic/ (of-thal´mik) ocular (1). oph·thal·mic adj. Of or relating to the eye; ocular. Ophthalmic Pertaining to the eye. pharmaceuticals. Bausch & Lomb expects to record a non-recurring after-tax net loss on the sale of approximately $6.3 million, or $.11 per share, which will be reflected in the company's third-quarter earnings report. Additional financial details of the transaction are not being disclosed. The company first indicated its intention to exit the Oral Care business in January of this year. "The sale of the Oral Care business allows Bausch & Lomb to better concentrate on building our global eye care businesses and bringing more innovative eye care products to the market place to meet the needs of the consumer," said William H. Waltrip, Bausch & Lomb's chairman and chief executive officer. "The sale will also give Interplak(R) new life. CONAIR has the strategic direction, market position, and core competencies needed to leverage the strong heritage that Bausch & Lomb has developed in the Interplak brand, build upon its worldwide recognition, and make it a more formidable competitor in the global marketplace." The Bausch & Lomb Oral Care Division, based in Rochester, N.Y., has marketed the Interplak line of power toothbrushes for plaque removal since 1988, when Bausch & Lomb acquired Dental Research Corporation, the creator of Interplak. The division accounts for less than 3% of Bausch & Lomb's total revenues. CONAIR, founded in 1959, is a leading international manufacturer of branded personal care small appliances, in addition to its health and beauty products, kitchen appliances and telephones. Some familiar CONAIR products are the Cuisinart(R) food processors, Jheri Redding Jheri Redding (March 2, 1907 – March 15, 1998) was an American hairdresser, chemist, hair care products entrepreneur and businessman. Redding is credited with being the inventor of modern day hair conditioner. (R) line of shampoos and conditioners, CONAIR hairdryers and curling irons an instrument for curling the hair; - commonly heated when used. Called also curler . See also: Curling , and the Southwestern Bell
Southwestern Bell Telephone, L.P. Freedom Phone(R). CONAIR headquarters are located in East Windsor East Windsor is the name of the following places in the United States of America:
Bausch & Lomb Incorporated is a global eye care company dedicated to helping consumers see, look and feel better through innovative technology and design. Its core businesses include soft and rigid gas permeable gas permeable gas adj (lenses) → luftdurchlässig contact lenses, lens-care products, premium sunglasses and ophthalmic pharmaceutical products. The company is advantaged with some of the most respected brands in the world starting with its name, Bausch & Lomb(R), and including Ray-Ban(R), Arnette(TM), Curel(R), SofLens66(TM), Boston(R), and ReNu(R). Founded in 1853 in Rochester, N.Y., where it continues to have its headquarters, the company has annual revenues of approximately $2 billion and employs approximately 13,000 people in 35 countries. Bausch & Lomb products are available in more than 100 countries around the world. CONTACT: Holly Echols - B&L Barbara Kelley Barbara Kelley was a British police officer with the London Metropolitan Police. She was the first woman in the country to be promoted to the rank of Detective Chief Superintendent. - B&L 716-338-8064 office 716-338-5386 office 716-473-7104 home 716-621-7141 home 800-405-5314 pager or or Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: Frank Lindsey - CONAIR Angela Panzarella 203-351-9034 office 716-338-6025 |
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