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P&G Seeks Bids for Oxydol Brand

March 27, 2000

CINCINNATI (AP) _ The Procter & Gamble Co. is soliciting offers for its Oxydol brand laundry detergent, a mainstay of the consumer products giant since 1927.

``Although Oxydol is a highly profitable and recognized brand, it is no longer a strategic fit for us,″ Paul Polman, president of P&G’s Global Fabric Care division, said Monday. ``We are putting more focus against building brands that offer the greatest potential for global growth.″

The Cincinnati-based P&G said it would retain the Oxydol brand if it does not get an acceptable offer.

The company made a similar move last week when it sought bids for some of its shortening and cooking oil brands used in restaurants.

Shares of P&G were trading down 93 3/4 cents to $55.50 on the New York Stock Exchange.

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