Gillette in talks to sell stationery unit

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Gillette Co., Boston, announced it is in talks to sell its stationery product business to household product marketer Newell Rubbermaid. A statement from Gillette said the talks are expected to continue for several weeks. The sale of the stationery products unit - which markets the Liquid Paper, Parker and Paper Mate brands - is part of Gillette's plan to concentrate on the better performing razor and toiletries businesses, and improve its overall financial results. In February, Gillette hired J.P. Morgan & Co. to review alternatives for parts of its Braun appliance business, and in March, Gillette reached an agreement to sell its haircare brands to Diamond Products Co. and exit that segment.

Copyright June 2000, Crain Communications Inc.

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