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ROH in Restructuring Mode

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January 20, 2009 |Comments: 0
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ROH

The ongoing economic downturn has played its part in Rohm & Haas' (ROH) latest move to eliminate 5.7% of its work force. The company is also closing units and initiating a freeze on discretionary spending and employee salaries.

ROH expects to save $90 million annually with these actions. However, the chemical maker expects a restructuring and asset impairment charges of $90 million in the fourth quarter.

Rohm & Haas also mentioned that it expects fourth-quarter profit to beat the consensus estimate. Analysts are expecting a profit of 67 cents.

The company is a Zacks #4 Rank ("Sell").

Read the full analyst report on ROH

 
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