Amer Group denies false rumours about disposal of Atomic
1998-02-03, 17:00
Referring to recent comment in the Austrian press, Amer Group
announces that it has no intention of selling its Atomic Companies,
whilst measures have already been taken by the Group to improve
Atomic's performance.
As announced in the second 1997 interim report in October, Atomic's
operations have been clearly in the red, such that Atomic's overall
1997 performance will be significantly lossmaking, to a greater extent
than in 1996. The main problems have been in the in-line skate
operations as sales and profitability of Oxygen in-line skates
decreased dramatically last year. The estimated decline in the total
in-line skate market has been approximately 25%. Last Autumn, the
Group initiated measures to adapt its Köflach factory, manufacturers of
Oxygen in-line skates, to the new market situation by streamlining its
whole organisation, as a result of which more than 100 people were
made redundant.
Atomic's poor performance has clearly been disappointing. However,
Wilson has been performing better than expected as has Amer
Tobacco. The Group's results will clearly improve compared to 1996,
and the results will not materially differ from information given by the
Group in October.
Amer's 1997 financial results are due to be published on Thursday,
12 February at 2pm Finnish time.
announces that it has no intention of selling its Atomic Companies,
whilst measures have already been taken by the Group to improve
Atomic's performance.
As announced in the second 1997 interim report in October, Atomic's
operations have been clearly in the red, such that Atomic's overall
1997 performance will be significantly lossmaking, to a greater extent
than in 1996. The main problems have been in the in-line skate
operations as sales and profitability of Oxygen in-line skates
decreased dramatically last year. The estimated decline in the total
in-line skate market has been approximately 25%. Last Autumn, the
Group initiated measures to adapt its Köflach factory, manufacturers of
Oxygen in-line skates, to the new market situation by streamlining its
whole organisation, as a result of which more than 100 people were
made redundant.
Atomic's poor performance has clearly been disappointing. However,
Wilson has been performing better than expected as has Amer
Tobacco. The Group's results will clearly improve compared to 1996,
and the results will not materially differ from information given by the
Group in October.
Amer's 1997 financial results are due to be published on Thursday,
12 February at 2pm Finnish time.