Danaher Announces Increase to 2009 Anticipated Restructuring Activities
September 02 2009 - 6:00AM
PR Newswire (US)
WASHINGTON, Sept. 2 /PRNewswire-FirstCall/ -- 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." About Danaher 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: http://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. DATASOURCE: Danaher Corporation
CONTACT: Matt R. McGrew, Vice President, Investor Relations of
Danaher Corporation, +1-202-828-0850, Fax: +1-202-828-0860 Web
Site: http://www.danaher.com/
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