UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: July 17, 1997
THE DIAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 51-0374887
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
1850 NORTH CENTRAL AVENUE
PHOENIX, ARIZONA 85004-4525
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (602) 207-2800
<PAGE>
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
In a press release dated July 10, 1997, the Dial Corporation (the "Company")
announced the sale of certain of its household cleaning brands to Church &
Dwight, Co. Inc. Pending government approval of the transaction, the Company
will sell to Church & Dwight, Co. Inc. the following brands: Brillo soap pads
and related products, Parsons ammonia, Bo Peep ammonia, Sno Bol toilet bowl
cleaner, Cameo metal cleaner and Rain Drops water softener. The Company's
London, Ohio plant, where Brillo is manufactured, will also be part of the
sale.
The Company also announced in the press release dated July 10, 1997, that the
Company has sold its Bruce floor care product trademarks to Triangle Pacific
Corp. of Dallas, Texas.
The combined sale prices were approximately $30 million against annualized
sales of approximately $50 million. Proceeds of the sales will be used to
pay down debt.
A copy of the press release issued by the Company is attached as Exhibit 20
to this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(A) Exhibits
(20) Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
The Dial Corporation
(Registrant)
July 17, 1997
\s\ Lowell L. Robertson
Lowell L. Robertson
Senior Vice President, Finance
(Chief Accounting Officer and Authorized Officer)
EXHIBIT 20 PRESS RELEASE
DIAL ANNOUNCES SALE OF BRANDS
TO CHURCH & DWIGHT
PHOENIX, Ariz., July 10, 1997--The Dial Corporation (NYSE: DL) today announced
the sale of certain of its household cleaning brands to Church & Dwight, Co.
Inc. (NYSE: CHD). Pending government approval of the transaction, Dial will
sell to Church & Dwight the following brands: Brillo soap pads and related
products, Parsons ammonia, Bo Peep ammonia, Sno Bol toilet bowl cleaner, Cameo
metal cleaner and Rain Drops water softener. Dial's London, Ohio plant, where
Brillo is manufactured, will also be part of the sale. Church & Dwight is the
manufacturer of ARM & HAMMER brand products.
Dial also announced that it has sold its Bruce floor care product
trademarks to Triangle Pacific Corp. of Dallas, Texas. Triangle Pacific
manufactures Bruce Hardwood Floors.
Last September, as part of a corporate restructure, Dial announced that
it would focus its resources on building its four core product categories:
Dial soap, Purex laundry detergent, Renuzit air fresheners, and Armour Star
canned meats.
"We said we would divest ourselves of these products because they don't
fit in with our
focused corporate strategy," said Mal Jozoff, Dial Chairman and CEO. "For
Dial, these fine brands distracted our resources from our core franchises."
The sale prices were approximately $30 million against annualized sales
of approximately
$50 million. Proceeds of the sales will be used to pay down debt.
The Dial Corporation, headquartered in Phoenix, is a leading manufacturer
and marketer of consumer products, including Dial soaps, Purex detergents,
Renuzit air fresheners and Armour Star canned meats. Dial products have been
in the American marketplace for more than 100 years.
