Gretag Imaging 3Q Sales Fall Short, Liquidity Situation Remains Strained
Press release from the issuing company
Gretag's sales in the third quarter 2001 have failed to live up to expectations. Sales development was low but stable during July and August 2001, but the persisting mood of unsettlement among consumers, uncertainty in the capital goods market and sluggish economic activity, initially in the USA, have had a farreaching impact on the total imaging market sector. Sales slumped in September, hurt by the repercussions of the terrorist attacks in the USA. The Consumer Imaging Division has been most affected by the negative trend.
The company's liquidity situation remains strained. Negotiations with various partners aimed at improving matters are in progress. Efforts to restructure the group have entered a decisive phase and will result in additional measures. We will notify you of these measures over the coming weeks.
Gretag, The Imaging Company
The Gretag Imaging Group which is headquartered in Regensdorf, Switzerland, is one of the world‘s premier suppliers of photofinishing and imaging equipment. The products and services of Gretag Imaging range from minilabs, central labs and Internet applications to hardware and software for professional photography and the advertising industry. Gretag is a listed company on the Swiss Stock Exchange (GIGN) and has about 2000 employees worldwide
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