UPDATE: Church & Dwight to build new plant; 'comfortable' with 2008 EPS view

BOSTON, Jun 05, 2008 (Thomson Financial via COMTEX) -- CHD | Quote | Chart | News | PowerRating -- Church & Dwight Co. Inc. Thursday said it plans to construct a new laundry detergent manufacturing plant and distribution center in York County, Pa.

In conjunction with the opening of the new facility, the company will close its existing laundry detergent manufacturing plant and distribution buildings in North Brunswick, N.J. Church & Dwight said it plans to provide severance and transition benefits to about 300 affected employees at North Brunswick.

The Princeton, N.J.-based consumer products company said it expects the overall project to reduce second half 2008 earnings by about 8 cents a share and 2009 earnings by about 24 cents a share.

These charges relate primarily to accelerated depreciation of the North Brunswick complex, severance and other one-time costs associated with the closing of those operations, the company said.

Church & Dwight said it "remains comfortable" with its previously-issued 2008 objective of achieving $2.77 earnings per share, before the project charges. The mean estimate of analysts polled by Thomson Reuters is for 2008 profit of $2.81 a share.

Shares closed Wednesday at $57.39. Casey Logan cl/pc

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