A2 Announces focus on Australia in Restructuring Proposal
A2 Corporation Limited (“A2C”) (NZAX:ATM) today announced that the Company has implemented a strategic market review following its recent Half-Year result which saw its Australian sales increase 260% over the same period last year, but the business still record an overall loss.
A2C Chairman Cliff Cook says that as a result the Board has decided that the strategic review will include a restructuring proposal where Australia will be one of the key drivers of A2C’s business operations as part of endeavouring to make the business fully profitable by the end of 2009.
“We are pleased with the success A2C is having in the Australian market. As a result, the key focus for A2C will be to build on this success. Consequently, the restructuring will include a proposal that the New Zealand A2C head office is transferred to Australia to ensure management focus is on this key market,” says Cook.
Cook adds that the restructuring proposal would see the registered office, treasury and company secretarial responsibilities remaining in New Zealand.
ENDS
Cliff Cook, Chairman, A2 Corporation, Mobile +64 021 932 254
