1. Canada's Reed Paper starts slimming down.
- Subjects
DIVISIONS (Organizational structure) ,SALE of business enterprises ,FURNITURE industry ,TEXTILES - Abstract
The article reports on the decision of Reed Paper Ltd. to announce the sale of its furniture division in Toronto, Ontario in March 1978, which plans to close its fabric division if it is not yet sold by April 1978. It says that the two divisions were parts of Reed Paper's disastrous expansion into decorative products, which has led to write-offs and losses worth 66 million U.S. dollars in 1977. According to the author, rumors abound about Reed International's plan to shed its Canadian assets worth 400 million U.S. dollars.
- Published
- 1978