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BRIEF-GCP Applied completes sale of Darex and announces realignment plan
July 3, 2017 / 5:14 PM / in 4 months

BRIEF-GCP Applied completes sale of Darex and announces realignment plan

July 3 (Reuters) - Gcp Applied Technologies Inc

* GCP applied technologies completes sale of darex and announces realignment plan

* GCP applied technologies inc- board of directors has approved a business realignment plan that includes actions to reduce costs

* GCP applied technologies inc - ‍gcp expects plan to result in net annualized savings of approximately $22 million to $25 million​

* GCP applied technologies inc - expects plan to result in net annualized savings of approximately $22 million to $25 million

* GCP applied technologies inc - expects to incur total costs of $22 million to $26 million associated with plan

* GCP applied technologies inc - costs consist primarily of headcount reductions and related expenses

* GCP applied technologies inc - realignment actions are expected to be completed by end of 2018

* GCP applied technologies inc - realignment actions are expected to be completed by end of 2018

* GCP applied technologies-expects to incur total costs of $22 million to $26 million associated with plan, of which about $16 million expected to be incurred in q2

* Gcp-Plan includes reduction in costs, including stranded costs regarding darex unit, transition of co to construction products technologies co Source text for Eikon: Further company coverage:

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