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Please find below all Forbo media releases listed by year.
Eglisau, May 3, 2000
At the 72nd ordinary Annual General Meeting of Shareholders held in Zurich on May 3, 2000, the shareholders of Forbo Holding AG approved with a large majority all the proposals put forward by the Board of Directors. Some 300 shareholders took part in the event.
In line with the Board of Directors' proposal, the General Meeting of Shareholders approved a dividend of CHF 22.- per share, unchanged from the previous year.
The General Meeting of Shareholders approved the re-election of Dr. Ivo Gerster and elected Michael Pieper, Chief Executive Officer of the Franke Group, a new member of the Board of Directors.
Net sales in the first quarter of 2000 increased by 9.6% to CHF 466 million, with about 4% due to exchange rate movements. Especially the core business with four strategic business units rose its net sales by more than 10% compared with the previous year and is representing 78% of group sales. From today's point of view, the company is expecting a 4-5% increase in sales for the whole year. The Group expects consolidated profit to rise more than proportional to sales, exceeding CHF 90 million.
Forbo is globally represented with products and systems for floor coverings and industry specialties. It employs some 7 000 people worldwide and has an international network of 29 production companies in 12 countries and 71 marketing organizations in 25 countries.