Robbins & Myers Announces a Global Reorganization

Apr 16, 2001, 01:00 ET from Robbins & Myers, Inc.

    DAYTON, Ohio, April 16 /PRNewswire/ -- In a forward-looking decision,
 Robbins & Myers, Inc. (NYSE:   RBN) today announced a move to strengthen the
 Company's market presence internationally.  Robbins & Myers has consolidated
 its operations in England, Mexico and Asia-Pacific to achieve a more effective
 channel to market.  In addition the Company's Chemineer and Moyno businesses
 will streamline product offerings to improve long-term competitive positioning
 through a more cost-effective product focus.
     Gerald L. Connelly, President and Chief Executive Officer of Robbins &
 Myers, Inc., commented, "Our market presence will be enhanced in each
 geographic region with the unification of small operations, each of which
 lacks the critical mass to effectively develop strong broad-based customer
 relationships.  These actions will allow the Company to maximize synergies
 between product platforms, optimize business processes and provide an
 integrated management structure."
     Connelly continued, "Streamlining our current product offerings at
 Chemineer and Moyno will eliminate some of the redundant or less competitive
 lines and permit a more focused approach to our customer's future needs.  This
 will have no impact on revenues but will have a positive long-term
 contribution to margins."
     Connelly stated, "We expect to increase market penetration while achieving
 an annualized cost savings of $1.2 million to $1.6 million or a positive $.06
 to $.08 annual earnings per share.  To achieve these results the Company
 expects to incur a one-time charge of $2.3 million in the third quarter with
 approximately $1.2 million related to the transition to a regional structure
 in England, Mexico and Asia-Pacific and the balance to the discontinued
 product offerings.  There will also be ongoing costs of $400,000 related to
 the global structure, which will be spread over the next few quarters.  Third
 quarter net earnings per share are expected to meet current expectation prior
 to an adjustment of $.10 to $.12 per share relating to these actions.  We
 remain encouraged as backlog has continued to increase through the first month
 of the third quarter following successive increases of more than eight percent
 in the first and second quarters."
     Robbins & Myers, Inc. is an international manufacturer and marketer of
 superior quality fluid management products and systems serving the process
 industries including:  specialty chemical, pharmaceutical, oil and gas
 exploration and production, wastewater treatment, food and beverage, pulp and
 paper, and mining.  Headquartered in Dayton, Ohio, the Company has facilities
 in the United States, Canada, Europe, Brazil, Mexico, Singapore, Venezuela and
 joint ventures in China, India, and Taiwan.
     In addition to historical information, this release contains forward-
 looking statements, identified by use of words such as "expects,"
 "anticipates," "estimates," and similar expressions.  These statements reflect
 the Company's expectations at the time of this release was issued.  Actual
 events and results may differ materially from those described in the forward-
 looking statements.  Among the factors that could cause material differences
 are a significant decline in capital expenditures in specialty chemical and
 pharmaceutical industries, a major decline in oil and natural gas prices,
 foreign exchange rate fluctuations, continued availability of acceptable
 acquisition candidates and general economic conditions that can affect demand
 in the process industries.  The Company undertakes no obligation to update or
 revise any forward-looking statement.
     The Company's common stock trades on the New York Stock Exchange under the
 symbol RBN.
 
 

SOURCE Robbins & Myers, Inc.
    DAYTON, Ohio, April 16 /PRNewswire/ -- In a forward-looking decision,
 Robbins & Myers, Inc. (NYSE:   RBN) today announced a move to strengthen the
 Company's market presence internationally.  Robbins & Myers has consolidated
 its operations in England, Mexico and Asia-Pacific to achieve a more effective
 channel to market.  In addition the Company's Chemineer and Moyno businesses
 will streamline product offerings to improve long-term competitive positioning
 through a more cost-effective product focus.
     Gerald L. Connelly, President and Chief Executive Officer of Robbins &
 Myers, Inc., commented, "Our market presence will be enhanced in each
 geographic region with the unification of small operations, each of which
 lacks the critical mass to effectively develop strong broad-based customer
 relationships.  These actions will allow the Company to maximize synergies
 between product platforms, optimize business processes and provide an
 integrated management structure."
     Connelly continued, "Streamlining our current product offerings at
 Chemineer and Moyno will eliminate some of the redundant or less competitive
 lines and permit a more focused approach to our customer's future needs.  This
 will have no impact on revenues but will have a positive long-term
 contribution to margins."
     Connelly stated, "We expect to increase market penetration while achieving
 an annualized cost savings of $1.2 million to $1.6 million or a positive $.06
 to $.08 annual earnings per share.  To achieve these results the Company
 expects to incur a one-time charge of $2.3 million in the third quarter with
 approximately $1.2 million related to the transition to a regional structure
 in England, Mexico and Asia-Pacific and the balance to the discontinued
 product offerings.  There will also be ongoing costs of $400,000 related to
 the global structure, which will be spread over the next few quarters.  Third
 quarter net earnings per share are expected to meet current expectation prior
 to an adjustment of $.10 to $.12 per share relating to these actions.  We
 remain encouraged as backlog has continued to increase through the first month
 of the third quarter following successive increases of more than eight percent
 in the first and second quarters."
     Robbins & Myers, Inc. is an international manufacturer and marketer of
 superior quality fluid management products and systems serving the process
 industries including:  specialty chemical, pharmaceutical, oil and gas
 exploration and production, wastewater treatment, food and beverage, pulp and
 paper, and mining.  Headquartered in Dayton, Ohio, the Company has facilities
 in the United States, Canada, Europe, Brazil, Mexico, Singapore, Venezuela and
 joint ventures in China, India, and Taiwan.
     In addition to historical information, this release contains forward-
 looking statements, identified by use of words such as "expects,"
 "anticipates," "estimates," and similar expressions.  These statements reflect
 the Company's expectations at the time of this release was issued.  Actual
 events and results may differ materially from those described in the forward-
 looking statements.  Among the factors that could cause material differences
 are a significant decline in capital expenditures in specialty chemical and
 pharmaceutical industries, a major decline in oil and natural gas prices,
 foreign exchange rate fluctuations, continued availability of acceptable
 acquisition candidates and general economic conditions that can affect demand
 in the process industries.  The Company undertakes no obligation to update or
 revise any forward-looking statement.
     The Company's common stock trades on the New York Stock Exchange under the
 symbol RBN.
 
 SOURCE  Robbins & Myers, Inc.