Amer Sports

Infobox Company
company_name = Amer Sports Oyj
company_
company_type = Public (OMX|HEX24235|AMEAS)
foundation = 1950
location = Helsinki, Finland
key_people = Anssi Vanjoki (Chairman of the board), Roger Talermo (President and CEO)
industry = Sports equipment
products = Athletic shoes, sports and fitness equipment
revenue = €1.652 billion (2007)cite web |url=http://www.amersports.com/midcom-serveattachmentguid-9c9353d8e5e911dcb41303f3c5ac46444644/amer_sports_vsk07_gb_3.pdf |title=Annual Report 2007 |accessdate=2008-04-11 |publisher=Amer Sports]
operating_income = profit €49.5 million (2007)
net_income = profit €12 million (2007)
num_employees= 6,582 (2007)
homepage = [http://www.amersports.com/ amersports.com]
intl = yes

Amer Sports Oyj (formerly Amer-Yhtymä Oyj, OMX|HEX24235|AMEAS) is the largest manufacturer of sporting equipment in the world. [cite news |last=Ludden |first=James |url=http://www.bloomberg.com/apps/news?pid=10000085&sid=alpepTDiK7xk&refer=europe |title=Amer May Need Four Years to Revive Profitability at Salomon |accessdate=2008-04-11 |date=May 23, 2005 |work=Bloomberg] Established in 1950, the company is based in Helsinki, Finland. Initially an industrial conglomerate with interests as diverse as shipowning, tobacco products and publishing, Amer has gradually evolved into a multinational firm devoted to the production and marketing of sporting goods. Today, the company employs approximately 6,600 people and owns a portfolio of sports brands including Wilson, Atomic, Suunto, Precor and Salomon.

History

Industrial past

The company began life as a tobacco manufacturer and distributor, Amer-Tupakka, in 1950cite web |url=http://www.amersports.com/about/in_brief/history/ |title=Amer Sports history |accessdate=2008-04-11 |publisher=Amer Sports] and acquired the right to produce and sell Philip Morris cigarettes in Finland in 1961.cite encyclopedia |last = Cohen |first = M.L. |title = Amer Group plc |encyclopedia = International Directory of Company Histories |publisher = The Gale Group |date = 2006 |url = http://www.answers.com/topic/amer-group-plc |accessdate = 2008-04-11] In the 1960s, the significant profits from the company's tobacco interests were invested in three commercial ships. A publishing and printing division was added in 1970 with the purchase of the Finnish company Weilin+Göös, and the company listed on the Helsinki Stock Exchange in 1977, four years after changing its name to Amer-Yhtymä ( _en. Amer Group). In the 1980s Amer moved into the vehicle import industry by acquiring the firm Korpivaara, and with it the exclusive rights to import and distribute such brands as Citroën and Toyota. The decade also saw the company expand into the textiles and plastics markets.

Focus on sport

In 1986 Amer established a sports division after acquiring a majority stake in the golf equipment maker MacGregor Golf from Jack Nicklaus. [cite news |url=http://query.nytimes.com/gst/fullpage.html?res=9A0DEED91F3AF930A35751C1A960948260 |title=COMPANY NEWS; MacGregor Sale |accessdate=2008-04-11 |date=3 December 1986 |work=Reuters |publisher=The New York Times] Despite this, the company was involved in the sports equipment market as early as 1974, when it bought over the hockey gear maker then known as Koho-Tuote. These interests were sold in 1986. Three years later, Amer acquired the Chicago-based Wilson Sporting Goods Company, a leading producer of golf clubs, racquets and other sporting equipment, marking a major change in strategy for the company. [cite news |last=Freudenheim |first=Milt |url=http://query.nytimes.com/gst/fullpage.html?res=950DE7DF1038F932A15751C0A96F948260 |title=Amer Group to Acquire Wilson Sporting Goods |accessdate=2008-04-11 |date=21 February 1989 |work=The New York Times] Further acquisitions followed in the shape of the Austrian ski manufacturer Atomic in 1994 and the Finnish sports instrument maker Suunto in 1999. [cite press release |url=http://www.amer.fi/media/releases/view/241067edf8325b5219a5cc7701ff8998.html |title=Amer's ownership in Suunto rises to 98.7 percent |date=1 December 1999 |accessdate=2008-04-11 |publisher=Amer Sports] The American baseball and softball bat firm Demarini was purchased a year later, falling under the Wilson division. [cite web |url=http://www.alacrastore.com/storecontent/Thomson_M&A/Wilson_Sporting_Goods_Co_acquires_DeMarini_Sports_Inc-965769020 |title=Wilson Sporting Goods Co acquires DeMarini Sports Inc |accessdate=2008-04-11 |date=19 January 2000 |work=Thomson Financial] During this time, many of the business areas no longer deemed to be core were divested, although the company retained its tobacco business until 2004 when it was sold back to Philip Morris. [cite news |url=http://www2.hs.fi/english/archive/news.asp?id=20031119IE1 |title=Amer Group giving up tobacco business; company to concentrate on sporting goods |accessdate=2008-04-11 |date=19 December 2003 |work=Helsingin Sanomat] In 2005, Amer acquired the outdoor sports company Salomon from adidas for €485 million. [cite news |last=Tomlinson |first=Heather |url=http://www.guardian.co.uk/business/2005/may/03/5 |title=Adidas sells ski and surf group for £329m |accessdate=2008-04-11 |date=3 May 2005 |work=The Guardian] In the same year, the company officially changed its name to Amer Sports Corporation. [cite news |url=http://www.accessmylibrary.com/coms2/summary_0286-8492394_ITM |title=Amer Group Plc changes name to Amer Sports Corporation |accessdate=2008-04-11 |date=24 March 2005 |work=Nordic Business Report]

Operations

Amer divides its operations into three business units: winter and outdoor sports, ball sports (consisting simply of Wilson) and fitness (of which all products carry the Precor brand).cite web |url=http://www.amersports.com/about/business_segments/ |title=Amer Sports business segments |accessdate=2008-04-11 |publisher=Amer Sports] The winter and outdoor business segment is the largest, contributing 50% of Amer Sports' revenue in 2007. The group produces products under seven flagship brands: Salomon, Wilson, Precor, Suunto, Atomic, Mavic and Arc'teryx (the latter two having previously been subsidiaries of Salomon when under the ownership of Adidas).cite web |url=http://www.amersports.com/brands/amer_sports_brands.html |title=Amer Sports brands |accessdate=2008-04-11 |publisher=Amer Sports] Other smaller brands held by the group include Volant and DeMarini.

The company's global headquarters are located in Helsinki, Finland, with manufacturing and sales locations worldwide. Amer's North American headquarters were moved from Portland, Oregon to a location in Ogden, Utah in 2007. [cite news |url=http://www.skiracing.com/index2.php?option=com_content&do_pdf=1&id=4075 |title=Owner of Salomon, Atomic moving U.S. HQ to Utah |accessdate=2008-04-11 |date=16 October, 2006 |work=Ski Racing]

See also

*List of Finnish companies

References

External links

* [http://www.amersports.com Official website]
** [http://www.amersports.com/investors/financial_review/ Financial information]
** [http://www.amersports.com/about/in_brief/history/ Official company history]