CORRECTED-Zoetis to reduce operations in Venezuela, considers selling plants
(Corrects headline and first paragraph to say company is reducing operations in Venezuela, not exiting)
May 5 (Reuters) - Animal health products maker Zoetis Inc said it would reduce operations in Venezuela and consider selling or exiting 10 manufacturing sites over the long term.
Zoetis said it expected to take a charge of $400 million to $500 million related to the restructuring, which would also include trimming "management layers."
The company also reported a 6 percent rise in first-quarter net income to $165 million. Revenue was flat at $1.10 billion, compared with the year-earlier quarter. (Reporting by Vidya L Nathan in Bengaluru; Editing by Saumyadeb Chakrabarty)
© Thomson Reuters 2017 All rights reserved.