Archived posting to the Leica Users Group, 1999/06/02

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Subject: [Leica] New M-6 Version - now official
From: Christer Almqvist <chris@almqvist.net>
Date: Thu, 3 Jun 1999 00:49:20 +0000

Frankfurter Allgemeine Zeitung, the German quality newspaper, published an
interview with Hanns-Peter Cohn, the chairman of the Leica Camera AG board,
on 29 May. Following is a summary of the main points:

1. Strong cost reductions and introduction of new models shall make Leica
Camera AG profitable again next year. First half of the current year will
bring a loss, but a break-even will be achieved for the full fiscal that
ends March 2000

2. New products include a compact camera, now called 'Metal 3', for less
than DM 1,000 ($ 500-600) towards the end of the year, and a digital camera
for amateurs for DM 1,500

3. For next year's Photokina there will be a new version of the M6 'with
more comfort', but the old version will be continued.

4. The stock market price was 24 Euro when the company went public in
September 96, it was 6.40 on 1 April, 14.50 on 30th April and is now II.00
Euro. Cohn promised to quadruple the stock market value within six years.

5. There is a savings target of 15% for all departments and purchase prices
are to be lowered by 2%. Stocks are to be reduced as is material usage.

6. Ignaz Lopez (ex Volkswagen) is not going to join the board. A Hamburg
share owners' group had suggested this, stating they had 15% of the shares.
Leica say they do not have 15% and that the group tries to manipulate share
price. A share buy back program is planned and the shares so acquired shall
be sold to staff.

Separately, the 'Effectensspiegel',  a well circulated stock market
magazine, has Leica on its list of recommended stock this week, stating a
target of 13 - 14 Euro

- --
christer almqvist
eichenstrasse 57, d-20255 hamburg, fon +49-40-407111 fax +49-40-4908440
14 rue de la hauteur, f-50590 regnéville-sur-mer, fon+fax +33-233 45 35 58