Ansell to invest up to $100m in transformation

Company News

by Jessica Amir

Ansell (ASX:ANN) has launched a significant transformational program, following the sale of its sexual wellness business.

The protection solution business will make a cash investment of US$70-$100million over three-years, with an additional US$20-$30 million in non-cash write downs.

Ansell says the program aims to improve the return on capital, with the business having a sharper focus on selling to industrial and healthcare markets.

The company says about US$40-$50 million of the cash investment will go towards a cost reduction program, which will deliver pre-savings of over US$30 million by 2020 and savings of US$5-$7 million in 2018.

Shares in Ansell (ASX:ANN) are trading 1.62 per cent higher to $22.53.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter.