Document › Details
Danaher Corporation. (9/2/09). "Press Release: Danaher Announces Increase to 2009 Anticipated Restructuring Activities". Washington, DC.
|Organisation||Danaher Corporation (NYSE: DHR)|
|Product||laboratory equipment and instruments|
|Product 2||medical device|
|Person||Culp, H. Lawrence, Jr. (Danaher 2001–201502 CEO RETIRED 3/15)|
Danaher Corporation (NYSE: DHR) today announced plans to accelerate its 2009 restructuring activities, which are now anticipated to total $225 to $250 million. In total, these initiatives are expected to provide annual costs savings of approximately $220 million through the elimination of approximately 3,300 positions and 30 facilities. Danaher had previously estimated total restructuring costs of $150 to $170 million in 2009.
Danaher's President and CEO, H. Lawrence Culp, Jr., said, "We are optimistic about the continuing signs of stabilization that we have seen during the first two months of the third quarter. We are also encouraged with the sequential improvement in order activity in some of our businesses. We believe that these additional 2009 restructuring activities will deliver improved results for us in 2010 and beyond."
Danaher (NYSE: DHR), based in Washington. D.C., is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our portfolio of premier brands is among the most highly recognized in each of the markets we serve. Driven by strong core values and a foundation provided by the Danaher Business System, our 50,000 associates serve customers in more than 125 countries and generated $12.7 billion of revenue in 2008. For more information please visit our website: www.danaher.com.
Statements in this release that are not strictly historical, including the statements regarding the amount and nature of the Company's planned restructuring activities, expectations for the balance of 2009 and future periods and any other statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking" statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These factors include, among other things, the current global economic recession and the upheaval in the credit markets and financial services industry, competition, our ability to develop and successfully market new products and technologies, the contractions or growth rates and cyclicality of markets we serve, our ability to expand our business in new markets, our ability to successfully identify, consummate and integrate appropriate acquisitions, the impact of our debt obligations on our operations, litigation and other contingent liabilities including intellectual property and environmental matters, our compliance with applicable laws and regulations and changes in applicable laws and regulations, tax audits and changes in our tax rate, risks relating to potential impairment of goodwill and other long-lived assets, currency exchange rates, pension plan costs, commodity costs and surcharges, labor matters, our relationships with and the performance of our channel partners, our ability to achieve projected efficiencies, cost reductions, sales growth and earnings, and international economic, political, legal and business factors. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2008 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended July 3, 2009. These forward-looking statements speak only as of the date of this release and the Company does not assume any obligation to update any forward-looking statement.
Matt R. McGrew,
of Danaher Corporation,
Record changed: 2016-03-19
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