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    B&M ASA skinned production to be moved to Cobra
    Posted On:  12/03/2004 11:34:19
    As a response to the declining global windsurfboard market, the Boards & More group
    has decided to close its own windsurfboard production site in Molln. This will have an
    impact on around 35 employees.
    In August 2003, a team of investors led by Yves Marchand purchased the company
    and in the course of necessary turnaround activities, the strategic alignment of the
    Boards & More group has been reviewed. Analysis of the value added chain have
    revealed that maintaining an own windsurfboard production in Austria while facing
    direct competition from Asia and in view of a declining world windsurfboard market, is
    economically not viable. In the future, Boards & More will focus on its core business,
    i.e. the development, marketing and distribution of its own and licensed brands.
    As per end of July 2004, the windsurfboard production in Molln will be closed and
    moved to Thailand. For this purpose Boards & More has entered a strategic production
    agreement with Cobra (the Worlds biggest windsurfboard producer based in
    Bangkok/Thailand) in order to jointly develop and innovate on new products, as well as
    promote the windsurfing sport in general. Additionally the ASA manufacturing
    equipment of Molln will be fully integrated into Cobra´s production facilities in Bangkok.
    Since both the management and the owners are fully aware of their social
    responsibility towards the workers of Molln, a generous and well-balanced social
    programme has been elaborated for the employees, in coordination with the works
    council. In addition to legal redundancy payments, this scheme also includes voluntary
    payments and the financing of a foundation. Among other things, this foundation will
    offer options for getting better professional qualifications and will assist the employees
    in finding new jobs.
    The Boards & More Group was founded three years ago and currently employs around
    700 employees worldwide. The group resulted from the merger of three windsurfing
    brands: Mistral, F2 and Fanatic. With its brands Mistral, F2, Fanatic, North Sails
    Windsurfing, North Kiteboarding, Santa Cruz Snowboards and Arrows Sails, Boards &
    More is a major supplier in the windsurfing-, snowboarding- and kite-markets.
    For enquiries, please contact:
    Stephan Guter
    Boards & More GmbH
    Fon: +49 89 666 55 126
    Fax: +49 89 666 55 100
    Mobil: +49 172 8376536