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adidas-Salomon will continue local production in Argentina

February 05, 2002

Panama, February 5, 2002 - adidas-Salomon, the second largest sporting goods company world-wide, announced today plans to continue production of footwear and apparel in Argentina.

This decision was made after negotiations with Gatic with regards to a new licence agreement could not be brought to a positive conclusion. Gatic had been adidas-Salomon's licence partner in the Argentinean market until the end of 2001. Therefore, adidas-Salomon now intends to continue its footwear and apparel production with local suppliers.

"Argentina is one of our key markets in Latin America. We are confident that there are solid business opportunities for adidas-Salomon in both the medium- and long-term", said Lionel Ortega, adidas-Salomon's Senior Vice President for Latin America. "We had a long partnership with Gatic over the last 30 years. Unfortunately, a new licence agreement could not be finalised. We do hope, however, that Gatic will remain one of our main suppliers in Argentina."