This October the company has announced record third quartersales, operating margin and earnings. At the time, chairman and CEOFrederic M. Poses had commented, "Looking ahead, we're on track toachieve our annual 15% earnings growth target as well as our sales,margin and cash flow goals."

Now he comments in the latest announcement, "These changes willeliminate job duplications and bring our operations closer tocustomers, enhancing our efficiency and competitive position acrossall business lines." He added that he believed the $52 millionannual savings would be on an "ongoing basis."

American Standard was created from the 1929 merger of theAmerican Radiator Co. and the Standard Sanitary Manufacturing Co.It acquired Westinghouse Air Brake Co. in 1968 and The Trane Co., amanufacturer of HVAC equipment, in 1984. After Black & DeckerCo. attempted a hostile takeover in 1988, management led a buyout,making the company privately held. It resumed its publicly tradedstatus in 1995.

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