Playtex Products to Close Plant
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WESTPORT, Conn. (AP) _ Playtex Products Inc. announced Monday it will close its plastic molding facility in Watervliet, N.Y., by the end of the year, resulting in the loss of 160 jobs.
The plant manufactures component parts primarily for infant feeding products. The production now will be done by plastic molders with specialized technology.
The Westport-based company will save about $1.5 million annually beginning in 2003. Playtex will record a one-time pretax charge in the first quarter of approximately $8 million to cover exit costs and asset write-offs.
Playtex makes Binky, Wet Ones, Baby Magic, Diaper Genie, Mr. Bubble, tampons, Banana Boat, Woolite rug and upholstery cleaning products.
Shares of Playtex closed Monday on the New York Stock Exchange at $10.56, down 49 cents.
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