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January 29, 2004
By: TOM BRANNA
Editor
Candlemaker Blyth Inc. said it would cut jobs and close facilities in a restructuring aimed at reducing costs and scaling back some product lines. The Greenwich, CT-based company said it would record fourth quarter restructuring charges and asset writedowns totaling between $25 million and $27 million. As a result, fourth quarter earnings will be reduced.In other news, Blyth Inc. acquired Walter Drake, a leading direct marketer of value-priced household products, for $53 million. The companyR...
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