Union Carbide Corp. reports earnings for Qtr to Dec 31
Published: January 26, 1990
|*3*** COMPANY REPORTS **|
|*3* Union Carbide Corp. (NYSE)|
|Qtr to Dec 31||1989||1988|
Latest quarter results included a non-recurring after-tax charge of $56 million, or 40 cents a primary share, mainly representing facility shutdown costs and severance and relocation benefits associated with restructuring the bulk and packaged gas business of Union Carbide's industrial gas subsidiary.
This after-tax charge of $56 million included $45 million, or 32 cents a primary share, representing personnel costs and costs resulting from the shutdown of marginal facilities. The $11 million balance included costs involved in completing the worldwide realignment of the company's core businesses as subsidiaries of Union Carbide, and the cost of restructuring a carbon products facility in Canada.
Year-ago quarter results included an after-tax charge of $58 million, or 43 cents a share, for the settlement of Bhopal litigation.