BARNES-HIND SHAKEUP RESULTS IN NEW VISION CARE GROUP

Executive Summary

BARNES-HIND SHAKEUP RESULTS IN NEW VISION CARE GROUP as an umbrella organization for Revlon's lens and instruments businesses. Effective July 1, the newly created Vision Care division restructures the former Barnes-Hind/Hydrocurve and Coburn segments into four separate operating units. The four units are Barnes-Hind, U.S.; Barnes-Hind, Canada; Coburn Professional Products; and Coburn Optical. In addition, Barnes-Hind/Hydrocurve has changed its name to Barnes-Hind. The two companies, Barnes-Hind and Hydrocurve, merged about two years ago and are fully integrated. The name change to Barnes-Hind is titular only, a spokesman said. According to the company spokesman, the reorganization is an example of the Revlon Health Care Group's "commitment to growth of the vision care business." Noting there is "very little change in the operating structure" of the company under the new plan, he said the reorganization provides a "framework for growth." It also makes a logical business group to break out, if Revlon were tempted. Heading up the new vision care group is Kevin Ryan, formerly president of Barnes-Hind/Hydrocurve. The consolidation of Coburn into the new group ends a long process of fitting that business into the Revlon structure. It was the first of Revlon's ophthalmic business purchases (in 1975) and has operated as a separate subsidiary. Taking over as president of Barnes-Hind, U.S. is Richard Wright, previously Barnes-Hind/Hydrocurve exec VP. Raymond Golabiewski retains his position as head of Canadian Barnes-Hind operations. Barnes-Hind manufactures the vision care group's contact lenses, solutions and related accessories. Coburn Professional Products in Clearwater, Florida, which makes intraocular lenses and ophthalmic instruments, including lasers, continues to be headed by Peter Burger. Coburn's glass and plastic eyeglass lens mfr., Coburn Optical, is headquartered in Muskogee, Oklahoma. John Blocha retains his role of president of that business segment. The four division presidents will report to Ryan. Sales of the vision care segment were $211.3 mil. during 1983, according to Revlon's 1983 annual report, a 21% jump over the year before. "Since Revlon entered the field of vision care in 1975, through a combination of internal development and acquisitions, our sales have grown at an average compound rate of 33% while operating profit has grown at an average compound rate of 23%," the report says. Sales of Revlon's health care business increased 6% to $1.26 bil. in 1983.