Originally created 01/15/04

Rayovac to move headquarters to Atlanta

MADISON, Wis. -- Rayovac Inc., the world's third-largest battery maker, will move its corporate headquarters from Wisconsin to Atlanta and shutter the Connecticut operation it acquired last year when it bought Remington Products, company officials said Tuesday.

Rayovac also will integrate all its Remington operations into its North American headquarters in Madison, Wis., and a manufacturing plant near the city.

The overhaul will mean the elimination of the Remington operation in Bridgeport, Conn., by year's end, with 217 employees laid off there.

The move of the corporate headquarters will mean the relocation of 25 executives to Atlanta, while 100 new professional and administrative positions will be moved to Madison from Connecticut.

Another 30 manufacturing jobs will be added to the company's Portage, Wis. plant.

The company said in a statement the moves are designed to integrate the Remington operation Rayovac purchased in September and focus on its priorities. It also said the corporate headquarters move to Atlanta will put executives in a more central location closer to global customers and regional headquarters locations.

Rayovac employs 3,300 people worldwide and has been publicly traded on the New York Stock Exchange since 1997. With acquisitions of battery companies in recent years, Rayovac's products include battery and lighting devices, including a rechargeable brand of battery and hearing aid batteries. The company also makes Remington electric razors.

Rayovac was founded in 1906 as the French Battery Company in Madison. It was renamed Rayovac in the mid 1930s.

Shares of Rayovac were up 3 cents to close at $23.20 Tuesday on the New York Stock Exchange.


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