FAST Casualwear AG / Key word(s): Alliance/Letter of Intent
21.10.2013 17:57
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Ad-hoc-release
FAST Casualwear AG: New Orders of Shoes for the European Market
Hamburg, October 21, 2013 - FAST Casualwear AG (FAST) and a well-known
European retail group have expressed their intention that FAST shall become
one of the OEM suppliers for shoes. The European retail chain has over
2,000 points of sales in over 20 countries in Europe. This cooperation is
expected to lead to large orders on a long-term basis. It is estimated that
initially the orders will be in the region of three million pairs of shoes
with an estimated value of USD 30 million (approx. EUR 22 million) per
year. The Company anticipates that the contract will be executed in
December 2013 and believes that this is the beginning of a close and long
term partnership with the European Group.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
About FAST Casualwear AG
FAST Casualwear AG is the German holding company of FAST Group, a Chinese
group of companies engaged in the design, production and sale of
casualwear, consisting of footwear and apparel including accessories. It
mainly designs and produces casualwear under its own brand name 'FAST',
targeting consumers aged between 16 and 35 primarily in the lower tier
cities in China. FAST distributes its own brand products through 26
unaffiliated regional distributors, who sell the products via retail
outlets operated either by themselves or by third party sub-distributors.
Its distribution network consists of 931 retail outlets in over 100 cities
throughout China. FAST also designs and produces footwear as contract
manufacturer for international brand owners, mainly from Europe and the
U.S. FAST's operating facilities are located in the southeast of China in
Jinjiang City, Fujian Province, one of the largest footwear manufacturing
hubs in China. FAST employs around 981 employees.
For further information please visit www.fast-casualwear.com or contact
Kirchhoff Consult AG
Dr. Kay Baden
Tel: +49 (0)40 609 186 39
E-mail: baden@kirchhoff.de
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect FAST Casualwear's current views and expectations and the
assumptions underlying them about future events. Forward-looking statements
are subject to many risks and uncertainties. If any of such risks and
uncertainties materialise or if the assumptions underlying any of FAST
Casualwear's forward-looking statements are proving to be incorrect, FAST
Casualwear's actual results may be materially different from those
expressed or implied by such forward-looking statements. FAST Casualwear
does not intend or assume any obligation to update these forward-looking
statements. Any forward-looking statement speaks only as of the date on
which it is made.
21.10.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: FAST Casualwear AG
c/o Kirchhoff Consult AG, Herrengraben 1
20459 Hamburg
Germany
Phone: 040 60 91 86 0
Fax: 040 60 91 86 60
E-mail: fast@kirchhoff.de
Internet: www.fast-casualwear.com
ISIN: DE000A1PHFG5
WKN: A1PHFG
Listed: Regulierter Markt in Frankfurt (Prime Standard)
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: FAST Casualwear AG:
| Source: EQS Group AG