OM Group Inc. announced a realignment of its corporate and management structure in conjunction with a major restructuring program designed to address the company's financial performance.

OM Group Inc., Cleveland, announced a realignment of its corporate and management structure in conjunction with a major restructuring program designed to address the company's financial performance. With the realignment, the company will consist of three business units - Cobalt, Nickel, and Precious Metals. The changes are designed to streamline the company's organization and enhance performance accountability, said CEO James P. Mooney. OMG previously announced a restructuring program that includes plans to sell "non-core assets" in a move aimed at generating up to $100 million in proceeds. In addition, the company said it will reduce its work force by 12% and take other steps to lower manufacturing and operating costs. OMG is a supplier of metal-based driers and catalysts and other coatings additives.