Crompton announces restructure, Q2 gains

By Patrick Raleigh, ERJ On-line news editor

Middlebury, Connecticut-Crompton Corp. is to carry out a $50-million restructuring of its organizational set up. The plan accompanied the group’s second quarter results announcement, which indicated some improvement in the earnings performance of its rubber business.

The group-wide restructuring, to happen later this quarter, will yield annual pre-tax savings of at least $50 million from 2005, according to Bob Wood, the group’s chairman, president and chief executive officer.

“We expect to incur a one-time restructuring charge that should not exceed…

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