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Article: Baldwin Technology Attempts To Reduce Costs with Corporate Restructuring Plan.(Brief Article)
- Article from:
- Printing News
- Article date:
- May 1, 2000
CopyrightCOPYRIGHT 2000 Cygnus Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Baldwin Technology Co. Inc., Stamford, Conn., recently announced a corporate restructuring plan to reduce the company's worldwide cost base and strengthen its competitive position as a leading global supplier of auxiliary equipment to the printing and publishing industry.
The company estimates that the cost of implementing the restructuring plan will be approximately $7 million, of which $5 million will be recorded as a charge in the quarter ending March 31. The balance will be charged as incurred during implementation. Separately, the company also will record in the quarter ending March 31 a tax benefit of $4 million to recognize the effect of a net operating ...