latest news releases from the newsroom
Ad Hoc: Head to Reduce Tennis Racquet Production in Austria and Czech Republic
ROTTERDAM, Netherlands and KENNELBACH, Austria, April 22, 2005 (PRIMEZONE) -- Head Sport AG, a company owned by Vienna and New York listed Head N.V. (NYSE:HED) (VSX:HEAD), has decided to outsource 90% of its tennis racquet production from its European sites in Kennelbach, Austria and Ceske Budejovice, Czech Republic to China. The initiative by the world's number two racquet brand is in response to the sharp rise in the euro-dollar exchange rate over the past two years and the substantial cost increase of the main raw material used in racquets, carbon fibre. Social plans for the employees concerned -- 120 in Kennelbach and 130 in Budejovice -- will be worked out in talks with the workers council and employees. No changes are planned in the Winter Sports Division of HEAD. Head is the only racquet manufacturer that still has its own production capacity, and currently makes about 500,000 units or some 25% of its annual output of 2.1 million racquets in Kennelbach and Budejovice. The remaining 75% have been sourced from China for some years. Major rationalisation programmes have been under way since 2001, and these have cut Tennis unit costs by about 20%. However, the strength of the euro, which has risen by about 50% against the U.S. dollar since 2001, and the doubling in carbon fibre prices since 2003 have impacted the division's earnings over the past two years. Since all of Head's competitors source their products in US$ from China, Head is now at a competitive disadvantage since our costs are about 30% higher than our competitors.
Invitation to Enea AB's Telephone Conference
TABY, Sweden, April 22, 2005 (PRIMEZONE) -- Enea publishes the Interim Report for Quarter 1, 2005 on Tuesday, April 26, 2005 before the opening of the stock market. The same day, Enea invites you to a telephone conference at 14.00 am CET with CEO, Johan Wall and CFO, Gunilla Spongh.
Phoenix Outdoor Opens Doors to Students
ASHEVILLE, N.C, April 22, 2005 (PRIMEZONE) -- Phoenix Outdoor, LLC began accepting students today after being issued a license from North Carolina's Department of Health and Human Services as a Therapeutic Habilitative Camp. Phoenix Outdoor's wilderness treatment program provides comprehensive crisis intervention and assessment for families with teenagers ages 13-17.
Wanted: Print Advertising Sales Professionals
OAKTON, Va., April 22, 2005 (PRIMEZONE) -- PrintAdvertising.com, the premier provider of comprehensive print advertising news, products and services, is looking for hungry, print advertising sales professionals to fill the many positions posted on its Publishers' Representative Wanted Board. This new resource connects print media sales talent with publishers from all around the world. It is the best way for print media sales professionals to find jobs and grow their businesses.
Scania's T-model Says Goodbye
SODERTALJE, Sweden, April 22, 2005 (PRIMEZONE) -- Scania will soon put an end to a century-long design concept. Sales of the bonneted T-model have declined during the past 10 years and it is no longer defendable to continue developing and producing it. Production will be phased out by October 2005.
Skanska Sells Four Properties for SEK 1.1 Billion, With a Gain of SEK 550 M
STOCKHOLM, Sweden, April 22, 2005 (PRIMEZONE) -- Skanska sells four properties in the Stockholm area for SEK 1,091 M with a capital gain of about SEK 550 M. Buyer is the American investment bank The Blackstone Group. The capital gain will be reported in the second quarter of 2005, at which time transfer and payment will also be made.