has sold its heavy-duty laundry detergent brands marketed in Thailand, Malaysia, Singapore and Hong Kong, and will close or modify two factories now dedicated to making detergent.
The product lines were sold to
Procter & Gamble
. The transaction includes the Fab, Trojan, Dynamo and Paic brands. Colgate expects a gain that will result from the transaction to be offset by fourth-quarter charges associated with its restructuring program.
New York-based Colgate said Wednesday that the sale was part of its strategy to de-emphasize or eliminate low-margin businesses and focus on its faster-growing oral, personal and pet care operations. Some of Colgate's other brands include Irish Spring, Ajax and Hill's Science Diet.
Shares of Colgate were down 1 cent at $54.90. P&G slipped 2 cents to $58.76.