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FoxMeyer $59.9 mil. charge covers start-up costs for national distribution center; president resigns.

Executive Summary

FOXMEYER $59.9 MIL. CHARGE COVERS START-UP OF NATIONAL DISTRIBUTION CENTER among other operational changes, the company announced Feb. 1. FoxMeyer said that the non-recurring, pretax charge of $59.9 mil. for the third quarter is a result of the costs of the ongoing changes being "higher than originally planned" and the changes themselves "not proceed[ing] as smoothly as originally anticipated."



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