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Amer Sports announces next stage plan structure

14
Jan '08
Despite the good snow conditions in most of the important winter sports markets during December, last year's reorder levels of winter sports equipment remained low. Amer Sports winter sports equipment sales for 2007 decreased 27% compared with 2006 (previous estimate was approximately 20%).

Amer Sports is announcing the next stage plan as follows:
According to the new plan there will be major changes in the structure of the group's Winter and Outdoor business. The reorganization plan announced today is estimated to reduce approximately 400 positions globally during the next 12 months. The goal is to finalize the new structure during the spring of 2008.

"We continue to develop our business model, with a goal of reaching a solid level of profitability for our winter sports business regardless of market conditions. This includes cost leadership enabling us to continue to invest in our strong brands. Our ambition is to increase our market share in winter sports equipment from its current 30% level to 40% globally," says Roger Talermo, Amer Sports Corporation President and CEO.

The one-time cost of the reorganization is estimated to be EUR 40 million. The cost will be accounted for in the Amer Sports 2007 financial statements. Amer Sports expects to realize annual cost-savings of EUR 20 million in 2009.

According to the plan, the industrial production of winter sports equipment will be separated from the Salomon and Atomic brandorganizations. As a result of this action, the manufacturing of skis is planned to end in France, as is the manufacturing of ski boots in Austria. Purchasing and sourcing activities will be further consolidated.


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