Re Patent Litigation
16 May 2003 - 12:18AM
UK Regulatory
RNS Number:1508L
Amer Group PLC
15 May 2003
Amer Group Plc
PATENT LITIGATION
Amer Group confirms that the Company's fitness equipment division, Precor, has
entered into negotiations to settle a patent litigation case. The litigation
relates to an exclusive right held by Precor to use technology for elliptical
fitness equipment. The other party to the litigation, the Life Fitness division
of Brunswick Corporation, has today announced that it has made a 25 million USD
provision, reflecting its estimate of the likely outcome of the litigation.
Amer discloses that the settlement agreement is not yet final, as any agreement
between it and Brunswick is currently subject to the approval of a third party,
the inventor of the elliptical machine patent.
Further information about the amount and timetable of any settlement funds will
be provided if and when a final settlement has been reached. The trial in the
case is currently scheduled for July 15 2003 in Seattle, Washington USA.
Amer Group Plc
Communications
Paivi Antola
Communications Manager
For further information, please contact:
Mr Max Alfthan, Vice President, Communications
tel. +358 9 7257 8216, +358 400 461 640
DISTRIBUTION:
Hex Helsinki Exchanges
Major media
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
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