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Share Name | Share Symbol | Market | Type |
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Amp China Ord/Units (delisted) | ASX:AGF | Australian Stock Exchange | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
RNS Number:5609U Amer Group PLC 23 January 2004 Amer Group Plc January 23, 2004 AMER GROUP'S PRECOR ACQUIRES CLUBCOM AND CARDIO THEATER Amer Group Plc's Fitness Equipment business, Precor Inc., is further strengthening its position in the fitness market by acquiring ClubCom, a provider of private television networks to clubs and fitness facilities. In addition, Precor is also acquiring ClubCom's video hardware and system division Cardio Theater. The total consideration for the acquisition is USD 22 million. ClubCom's offering includes audio/video entertainment and network systems, with technology enabling clubs to customize programming. Cardio Theater is the US market leader in video hardware and systems in clubs and fitness facilities. The acquisition excludes ClubCom's advertising sales division. ClubCom's technology platform is expected to enhance Precor's growth potential as a result of its full-line product offering and value-added services. The annual sales of the acquired businesses of ClubCom and Cardio Theater are approximately USD 15 million, of which the majority relates to Cardio Theater. Cardio Theater's operations are profitable, whereas ClubCom is a developing technology requiring investment. ClubCom is based in Pittsburgh, PA, USA and employs 67 staff. The ClubCom acquisition closely follows the purchase of Fitness Products International on 13 January 2004, best known for its Icarian strength equipment brand. These acqusitions have enabled Precor to improve its product offering at a time when the fitness market is both consolidating and focusing on developing stronger relationships with suppliers who can offer a complete range of products. Precor also expanded its service offering recently by introducing a new financing program for commercial customers. Precor manufactures technically advanced premium-quality fitness equipment for the commercial and home markets, featuring aerobic exercise equipment, and stretching and strength-training systems. Precor is the world's leading manufacturer of elliptical cross-trainers. AMER GROUP PLC Communications Paivi Antola Communications Manager Tel. +358 9 7257 8306, e-mail: firstname.lastname@amersports.com www.amersports.com Further information: Mr Max Alfthan, Vice President, Corporate Communications, tel. +358 9 7257 8216 Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212 www.clubcom.com www.precor.com AMER GROUP PLC Amer Group is one of the world's leading sports equipment companies with its internationally recognised brands Wilson, Atomic, Suunto and Precor. All Amer Sports companies develop and manufacture technically advanced products that improve the performance of active sports participants. The Group's business is balanced by its broad portfolio of sports and presence in all major markets. In 2002 Amer Group made an operating profit of EUR 103.0 million on net sales of EUR 1,101.9 million. Earnings per share were EUR 2.95. At the end of 2002 the Company had 3,939 employees. This information is provided by RNS The company news service from the London Stock Exchange END ACQDXLBLZFBXBBE
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