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The Dial Corporation to stay in Phoenix area.

PHOENIX--(BUSINESS WIRE)--Nov. 22, 1996--

To cut costs, company will relocate from

downtown Phoenix to suburban Scottsdale

The Dial Corporation (NYSE:DL), a $1.3 billion consumer packaged goods company, announced today that it has chosen the nearby suburb of Scottsdale as the site of its new corporate headquarters.

The company had announced in September that it planned to vacate its current headquarters space in a Phoenix office tower as part of an extensive cost-cutting program. That space will be sub-leased. Since that announcement, Dial has conducted a nationwide search for a new headquarters.

"This decision was based on the need to be competitive in our industry," said Malcolm Jozoff, Dial chairman, president and chief executive officer.

"It was a complicated analysis because there were so many factors involved -- such as low cost, access to excellent employees and an encouraging business environment. While each of the nine cities we studied had advantages, in the end, we found that 'there's no place like home.' The Greater Phoenix area proved to have the best mix of all the important factors that will enable Dial to compete harder and faster."

Jozoff praised the political and business leadership of Arizona for its "creative, enthusiastic and compelling" support.

"Nowhere else in the country did we encounter such a professional team effort," he said, citing the efforts of Arizona Gov. Fife Symington, Scottsdale Mayor Sam Campana, Phoenix Mayor Skip Rimsza, the Phoenix Chamber of Commerce, the Greater Phoenix Economic Council and major corporations such as Arizona Public Service and U.S. West.

"We want to do business where there's an environment of growth and dynamic leadership, and we found it all right here in our own backyard," he said.

Jozoff also cited cost savings resulting from not having to move employees out of state, as well as the availability of a partially completed building at a favorable lease rate and certain economic incentives offered by the city and state.

"We are serious about improving Dial's profitability and competitiveness," he said. "This move reflects our commitment to shareholders."

The new headquarters is a single-tenant building located across the street from Dial's Technical and Administrative Center, which houses 360 employees. This location gives the company an instant campus, which will increase efficiency.

The shell of the two-story building has been completed, and interior design and construction are expected to begin immediately. Dial plans to relocate approximately 300 employees to the new site by next May.

The Dial Corporation was formed Aug. 15, when it was spun off from The Dial Corp (now Viad Corp). On Sept. 25, the new company announced a major streamlining that included eliminating 250 positions, largely in management and administration, and more than half of its product lines. The cost-cutting program is expected to result in annual pretax savings of $40 million.

Dial manufactures and markets such well known brands as Dial soaps, Purex detergents, Renuzit air fresheners and Armour Star canned meats. The company employs 2,800 people and has six manufacturing plants in the United States.

CONTACT: The Dial Corporation, Phoenix

Ann Adams, 602/207-5121
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Publication:Business Wire
Date:Nov 22, 1996
Words:514
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