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International Business Successfully Wound Up in Poland
Measures Implemented to Improve Profitability
Düsseldorf, March 13, 2002 -
As announced, ESSANELLE HAIR GROUP AG has sold its unprofitable salon business in Poland to a local hairstylist's business retroactively as of 31 Jan. 2002. The split from this international business was one of the centrally planned measures to considerably improve profitability in 2002 and was implemented accordingly. Both parties have agreed not to disclose the selling price of the 24 salons.
Uwe Grimminger, CEO of ESSANELLE HAIR GROUP AG: "Our prime objective for 2002 is to considerably improve our profit situation. Although we will continue to grow far above the market average by opening up new salons, we are focusing clearly on profitability. The sale of our Polish business, which ran at a loss in recent years, is an important step in this direction."
Contact:
Haubrok Investor Relations
Michael Müller
+49-21 56-49 65 195
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