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Written by SkiPressWorld.com
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Thursday, 10 July 2003 19:00 |
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Munich (Ski Press)-Here s a highlight of this week s ispo News:
• Helly Hansen satisfied with 2002
For the year 2002, the Norwegian outdoor and water sports specialist Helly Hansen was able to post
operative profits with decreasing revenues of 168 million EUR (01: 193 million EUR). Details were not announced. According to the company, sales would have declined only slightly under constant currency exchange rate conditions. Helly Hansen reached the highest growth in the U.K., Sweden, Denmark, France, Spain, and Canada; the German market continued to decline.
• Malden Mills to conclude bankruptcy protection proceedings
U.S. textile manufacturer Malden Mills, well known for Polartec, among other products, expects to conclude bankruptcy protection in August after nearly two years operating under Chapter 11. According to the company, the reorganization plan which was published in March (see ispo_newsletter 12/03) has the support of a creditor group led by the U.S. investment company GE Capital. On August 14th a bankruptcy court will decide whether the plan will be approved; a positive outcome is expected.
• K2 condenses European headquarters: Hassloch to be moved to Penzberg
K2 has about 2,000 employees worldwide and reaches approximately US$700 million in revenues per year. The company is planning to grow considerably during the next few years by acquiring renowned businesses. K2 Europe will take over a considerable part of the future growth of the K2 Group. In order to be able to quickly, flexibly and efficiently distribute the existing and new product segments throughout Europe, the company will create a centralized and trimmed-down organization in Europe until the end of the year. K2 decided to concentrate operations in Penzberg, and to expand the branch into a European headquarters. At the latest at the end of 2003, Penzberg is to be ready to take on the operation for all product segments. The current center in Hassloch, which focuses on inline skates, will most likely be moved to Penzberg in September. (© 2003 Ski Press Media, Inc). |
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