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Clorox Plans to Keep Cleaning Product Lines

April 04, 2001|From Bloomberg News

Clorox Co., the largest U.S. household-bleach maker, said Tuesday it will retain its bleach and home-cleaning lines and decide within two months which of its other businesses to sell.

Accounting rules prevented Clorox from selling any of its businesses for two years after the company bought First Brands Corp. in January 1999 for $2 billion, Chief Financial Officer Karen Rose said at the Banc of America Securities consumer conference in New York. Clorox began a review after that barrier ended, she said.

Clorox's 100 lines include its namesake bleach, Pine Sol and Formula 409 cleaners and Liquid-Plumr drain cleaner. Analysts said the most likely lines to be sold include Kingsford charcoal, Black Flag and Combat insecticides and HearthLogg fire logs, as well as its food business, led by Hidden Valley dressings.

Shares of Oakland-based Clorox fell 73 cents to close at $30.75 on the New York Stock Exchange.

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