Leiner

Private labeler will take a "significant restructuring charge" in FY 2001 fourth quarter to cover costs of reengineering initiative that began in July 2000 and was accelerated in the fiscal third quarter ending Dec. 31, Leiner announces Feb. 14. Initiative includes elimination of 500 positions and closure of three facilities; manufacturing operations will be relocated to the firm's OTC facility in Fort Mill, S.C. (1"The Tan Sheet" Nov. 20, 2000, p. 4). Net sales for fiscal Q3 were down 12.7% to $159.5 mil. from the year-ago period; for the nine months, net sales were flat at $454.6 mil