July 20 (Reuters) - Rubber products maker Ansell Ltd (ANN) announced writedowns and restructuring on Thursday following the sale of its flagship condoms business two months ago.
Ansell said it will spend US$70 million to $100 million over three years to reorganise its supply chain, merge its single-use and medical divisions into a "healthcare" unit and find other cost savings.
It also announced non-cash asset write downs of $20 million to $30 million related to the closure of some "smaller, less efficient" production lines.
Ansell in May sold its oldest division, which produced condoms, for $600 million to China's Humanwell Healthcare Group Co Ltd <600079.SS> and CITIC Capital China Partners LP.
($1 = 1.2566 Australian dollars)
News: Ansell announces $100 mln restructuring following sale of condoms business
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