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Australia's Ansell shares drop 6 pct after restructuring
July 1, 2014 / 12:15 AM / 3 years ago

Australia's Ansell shares drop 6 pct after restructuring

SYDNEY, July 1 (Reuters) - Shares in Australia’s Ansell Ltd fell as much as 6.7 percent to six-week lows on Tuesday after the world’s biggest maker of condoms and gloves announced a restructuring that will cost $124.7 million and 250 jobs.

Ansell plans to relocate its condom headquarters offshore, exit a U.S. military gloves operation and shut a plant in Malaysia.

Shares in the company recovered slightly but were still down 4.7 percent at A$18.90 by 0008 GMT. (Reporting by Thuy Ong; Editing by Paul Tait)

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