latest news releases from the newsroom
Aaron Rents, Inc.
Photo Release -- Aaron's Annual Managers' Meeting Honors Founder and CEO R. Charles Loudermilk, Sr.
ATLANTA, April 22, 2005 (PRIMEZONE) -- Aaron Rents, Inc. (NYSE:RNT), the nation's leader in the rental, sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics, home appliances and accessories, today announced the successful completion of its Annual Managers' Meeting, which culminated with a celebration of the 50 years of leadership provided by Founder and CEO R. Charles Loudermilk, Sr. and provided conference attendees with the roadmap to accomplish the goal of growing at the same rate over the next five years as it took the Company the previous fifty years to achieve.
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.