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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:8045L Amer Group PLC 02 June 2003 2 June 2003 Amer Group Plc RE-ORGANISING WILSON EXPECTED TO RESULT IN COST SAVINGS IN 2004 Re-organising Wilson's businesses as well as related adjustments in Wilson's cost base in line with its business and current market situation are expected to lower Amer Group's overall cost base by approximately EUR 10 million in 2004. The restructuring will not have a significant impact in the current financial year in terms of additional costs. As announced on 29 April 2003, Amer Group is re-organising its Wilson businesses in the USA in order to ensure its competitiveness and to increase efficiency. As a core element of the measures taken, Wilson's cost base will be adjusted in line with its business and current market situation. In the new structure, the businesses are being divided into two business areas: Golf & Racquet Sports, and Team Sports. Wilson's central administration functions have been discontinued and decentralised. The following appointments have been made, which are effective immediately: GOLF & RACQUET SPORTS Steve Millea, President, Golf & Racquet Sports, will be responsible for the Golf & Racquet Sports business globally. Mr Millea was previously Vice President of Wilson's international operations. He will report to Roger Talermo, President and CEO of Amer Group. John Embree will be responsible in the US for Golf & Racquet Sports' sales. He has been appointed a Sales Director, Golf & Racquet Sports. Angus Moir takes over Golf's global businesses and has accordingly been appointed Global Business Director, Golf. Previously he was responsible for the Wilson golf business in Europe. Brian Dillman has been appointed Global Business Director, Racquet Sports. Dave Martyn has been appointed Director, Operations, Golf & Racquet Sports. John Belcik has been appointed Vice President, Finance, Golf & Racquet Sports. TEAM SPORTS Team Sports will continue as a separately managed business unit under the leadership of Chris Considine, President, Team Sports. He will report to Roger Talermo. Amer Group Plc Communications Paivi Antola Communications Manager For further information, please contact: Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212 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 MSCDGGGVZZKGFZM
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