Rohm and Haas to restructure operation, buy back stock

PHILADELPHIA (Dec. 17)–Rohm and Haas Co. will take a pre-tax charge of about $18 million to pay for cash severance and employee separation benefits as part of a restructuring plan that will cut about 200 positions. The restructuring initiative will cover administrative operations, as well as the firm’s Adhesives and Sealants, Electronic Materials, and Coatings businesses.

The restructuring program will be completed by next September and is expected to result in annual pre-tax savings of about $27 million, the company said.

The firm…

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