Energizer Holdings to split household products personal care brands into 2 companies

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email ST. LOUIS – Energizer Holdings plans to split into two separate and publicly traded companies, one selling batteries and household items, the other selling personal care brands such as Schick razors and Edge shaving gel.Shares jumped 16 per cent in midday trading Wednesday to reach a six-year high.The St. Louis company believes the split will give each company a clearer focus and let them make a more transparent case to investors.Reusable batteries have cut into traditional battery sales in recent years, thought the company does have its own line of rechargeable batteries.The split will be structured as a tax-free spinoff to existing Energizer shareholders, the company said. Energizer did not say what names the companies would operate under.The household company will sell Energizer and Eveready batteries, flashlights and portable lamps. It accounted for $1.9 billion in revenue in the year that ended March 31.The personal care company’s other brands will include Playtex and Stayfree feminine-care products and Hawaiian Tropic suntan lotion. It had $2.6 billion in revenue in the same period.“Since becoming an independent company in 2000, Energizer has built two successful divisions and each is now well-suited to realize its full potential on a stand-alone basis,” said CEO Ward Klein.Energizer expects the split to take place in the second half of fiscal 2015, which ends in September 2015.After the split, Energizer CEO Ward Klein is expected to serve as executive chairman of the personal care company. David Hatfield, current head of the personal care unit, will be CEO of the stand-alone company, Energizer said.Current Energizer Chairman J. Patrick Mulcahy would be chairman of the stand-alone household products company and that unit’s current chief, Alan Hoskins, would be CEO.Citigroup analyst Wendy Nicholson said the split likely surprised most investors since the company has repeatedly said that it has more value as a single entity. The change in heart at Energizer, which Nicholson rates as a ‘buy,” will boost company shares, she said.Shares of Energizer Holdings Inc. rose $15.65 to $113.36, erasing declines in the stock seen throughout this year.Separately, Energizer reported second-quarter net income for the three months ended March 31 rose 16 per cent to $98.5 million, or $1.57 per share. That compares with $84.9 million or $1.35 per share last year. Excluding restructuring and other costs, net income totalled $1.88 per share. Analysts had expected $1.73 per share, according to FactSet.Revenue fell 3 per cent to $1.06 billion from $1.1 billion last year. Analysts expected $1.07 billion. by The Associated Press Posted Apr 30, 2014 5:26 am MDT FILE – A revoving stuffed Energizer bunny greets visitors to Energizers world headquarters in this Jan. 21, 2003 file photo taken in St. Louis. Energizer Holdings said Wednesday April 30, 2014 it plans to split into two separate, publicly traded companies, one that would sell batteries and other household items, and the other to sell personal care brands such as Edge shaving gel. (AP Photo/Tom Gannam, File) Energizer Holdings to split household products, personal care brands into 2 companies read more

Child tests positive for arsenic after playing with magnetic putty withdrawn over

first_imgThe magnetic putty was removed from Amazon in January, following Northamptonshire Trading Standards Service banning the sale from a market stall  A young girl is thought to have been poisoned by arsenic after playing with a putty toy that was removed from online retailer Amazon last month. Neve Kelly was found to have 10 times the safe level of the deadly poison in her urine after playing with Magnetic Putty, according to her mother Frances. Ms Kelly claimed that the toy was bought as a Christmas present for her two daughters before she was warned by her sister over its possible toxic contents.She and her partner Mark then took their daughter to the doctors after Neve complained of stomach pains.Doctors results concluded that Neve had 10 times the safe amount of arsenic in her urine.Ms Kelly has since spoken out on social media to warn other parents of the toy.  Amazon removed it from its website over fears it contained seven times the safe level of arsenic and the magnet was 29 times stronger than the permitted force.At the time, the online retailer said: “Customer safety is our priority”. Amazon declined to comment on this case. Neve’s dad Mark, 40, wrote of his daughter’s condition on Facebook: “We don’t want to cause a panic, only make people aware of the potentially dangerous product.”Symptoms of arsenic poisoning include vomiting, abdominal pain and diarrhoea, while long term exposure can cause heart disease and cancer. Most exposure comes from drinking contaminated water.The family are now seeing legal advice. Ms Kelly added: “You’d think buying a Christmas present from a well-known seller would be safe.”Just worried if a child ingested it how much damage this would cause. We are all in disbelief.” The magnetic putty was removed from Amazon in January, following Northamptonshire Trading Standards Service banning the sale from a market stall Credit:Triangle News Despite being removed from the market stalls earlier this month, the product is still avaiable to buy in the UKCredit:Triangle News  Despite being removed from the market stalls earlier this month, the product is still avaiable to buy in the UK She wrote: “We have received shock news this afternoon with the results of my daughter Neve’s tests and there is a toxicology team in Edinburgh who are now dealing with it.”There was 10 times the normal level of arsenic found in her urine.”They had to take vials of blood and it is getting sent to an arsenic specialist in Glasgow. They are all in shock.”Neve has thankfully not shown many symptoms of damage and pray this test will be lower as she hasn’t been in contact with it since January.” Northamptonshire Trading Standards barred the product from sale last month after discovering it on a market stall, however it is still available to buy in the UK from some online retailers. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings.last_img read more