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November 02, 1995| Times Staff and Wire Reports

Premark to Spin Off Tupperware Unit: The Deerfield, Ill.-based company said it will spin off the subsidiary to shareholders. Tupperware, which makes plastic storage containers sold mainly through home parties, is Premark International Inc.'s largest and most profitable business. It had earnings of $200 million on sales of $1.3 billion last year. The spinoff of Orlando, Fla.-based Tupperware will leave Premark with its PMI Food Equipment business and its Wilsonart International and West Bend Co. appliance businesses, among others. The remaining Premark businesses earned $156 million last year on revenue of $2.1 billion. The company, which has long been under pressure to sell Tupperware, said it decided to spin off the unit because its direct-selling nature differs from that of its other businesses.

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