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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:1508L Amer Group PLC 15 May 2003 Amer Group Plc PATENT LITIGATION Amer Group confirms that the Company's fitness equipment division, Precor, has entered into negotiations to settle a patent litigation case. The litigation relates to an exclusive right held by Precor to use technology for elliptical fitness equipment. The other party to the litigation, the Life Fitness division of Brunswick Corporation, has today announced that it has made a 25 million USD provision, reflecting its estimate of the likely outcome of the litigation. Amer discloses that the settlement agreement is not yet final, as any agreement between it and Brunswick is currently subject to the approval of a third party, the inventor of the elliptical machine patent. Further information about the amount and timetable of any settlement funds will be provided if and when a final settlement has been reached. The trial in the case is currently scheduled for July 15 2003 in Seattle, Washington USA. Amer Group Plc Communications Paivi Antola Communications Manager For further information, please contact: Mr Max Alfthan, Vice President, Communications tel. +358 9 7257 8216, +358 400 461 640 DISTRIBUTION: Hex Helsinki Exchanges Major media 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 MSCILFLSERIELIV
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