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Sara Lee trims body care
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August 3, 1998: 10:54 a.m. ET
Consumer products maker shedding overseas household, body-care plants
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NEW YORK (CNNfn) - Consumer products maker Sara Lee Corp. said Monday it will restructure its household and body-care business to generate $200 million by the end of fiscal year 2000.
Sara Lee said it will divest two of its plants in Segrate and Trieste, Italy, which produce bath and shower foams, hand creams and baby-care products. The company is also shedding its aerosol production facility in St. Truiden, Belgium, and divesting a "significant portion" of its household and body-care business in Clayton, Australia.
Sara Lee added that it plans to reduce its European production facilities to nine by the end of fiscal 1999 from 26 in 1995.
The company also said it plans to repurchase at least $3 billion in common stock by the end of 2000 with the proceeds from those deals.
Monday's announcement is part of a broader restructuring plan Sara Lee announced last September. In April, Sara Lee said it planned to sell its international cut tobacco business, Douwe Egberts Van Nelle Tobacco, to Britain's Imperial Tobacco Group PLC for $1.08 billion.
In January, the company said it was divesting its yarn and textile operations by selling them to National Textiles LLC for about $600 million.
Sara Lee (SLE) shares gained 3/4 to 50-7/8 in early trading. 
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Sara Lee
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