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Elan Management Dismissed Because of Mismanagement

Ljubljana, 1 March - ELAN/MANAGEMENT
Supervisory board of the sports-equipment manufacturer Elan dismissed members of the managing board citing poor business results in recent years that have plunged the company in the red. The management has been unable either to stop or reverse the negative trends which led to massive losses that are expected to amount to eight million German marks at the end of the current business year which ends on 31 March. The supervisory board rejected the proposed business plan for the next season and has not yet appointed a new management.

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