Avery Dennison Announces 100 Million Restructuring Program

Avery Dennison Corporation AVY began a restructuring program expected to be completed by mid-2013 that will reduce costs across all segments of the business. The company currently anticipates more than $100 million in annualized savings from this program. To implement these actions, the company estimates that it will incur approximately $55 million in restructuring costs in 2012, and approximately $25 million in restructuring costs in 2013.