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.
â€œWe expect to incur a one-time restructuring charge that should not exceed…