These actions, in addition to other
initiatives the company will be undertaking to optimize its operations, product
lines and business portfolios, will result
in restructuring charges of $17 million
to $20 million ($13 million to $16 million after-tax) during the 2017 fiscal year.
These charges will be excluded from the
Company’s adjusted earnings per share.
The Company expects the program to
deliver approximately $18 million in annual savings, a portion of which will be
realized in 2017. The Company plans
to provide further financial details concerning the 2016 fiscal year and 2017
guidance during its regularly scheduled
conference call in mid-January.
Owens added, “The changes we are
announcing will be difficult for those
affected, and we will treat each person
with the respect they deserve and will
help them move forward. Our values and
commitment to ‘winning the right way’
will guide our actions.” The new organi-
zational structure is based on a thorough
analysis of the company’s operations and
2020 strategic vision, and is subject to
Works Council and/or Trade Union con-
sultations and other legal requirements.
Henkel Adhesive
Technologies Launches
Flagship Store on 1688 in
Partnership with Alibaba
Henkel Adhesive Technologies, a global
solution provider for adhesives, sealants
and functional coatings, has launched
its first comprehensive flagship store
on 1688, a world leading B2B e-commerce platform under Alibaba Group.
On August 10th, a business partnership
between Henkel and Alibaba was announced at a joint event.
Jeremy Hunter, Greater China presi-
dent of Henkel remarked: “China is the
second largest market for our adhesive
technologies business worldwide. Putting
customers first, the newly launched flag-
ship store allows us to showcase our
comprehensive product portfolio and
technology expertise. It better
positions Henkel and grants lo-
cal customers better and fuller
access to our products, the end-
result of research and innovation.”
Henkel flagship store on 1688 incor-
porates a competitive product portfo-
lio, with hundreds of products from all
Henkel Adhesive Technologies businesses
available, including the highly acclaimed
brands Loctite, Teroson, Bonderite,
Technomelt and Aquence. The store will
provide comprehensive solutions for
customers covering a range of applica-
tions for packaging and consumer goods,
transport and metal, general industry,
electronics, consumers, craftsmen and
building as well as a customized product
line especially for the China market.
According to Henkel, E-commerce
in China has seen sensational growth in
recent years, with online shopping growing not only for consumer sectors but
also for B2B commerce. Henkel Adhesive
Technologies, which closely monitors
