Clorox Puts Unit Up for Sale: Clorox...

Clorox Puts Unit Up for Sale: Clorox Co. put its $106.8-million Olympic stain and Lucite paint business on the block, conceding that the subsidiary failed to live up to expectations. Clorox said it would solicit offers for its Olympic HomeCare Products subsidiary, which manufacturers and markets Olympic wood stains and Lucite interior and exterior house paint. Clorox bought Olympic in 1981 for $123 million and added the Lucite brand in 1983 for $50 million. The products, although profitable, have performed poorly compared to the rest of Clorox’s product line. This year, analysts expect the subsidiary’s sales to drop to $100 million or less. One analyst said the division had only a 50% shot of turning a profit.