Columbia Sportswear Announces Plans for Construction of New Footwear Distribution Facility.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 7, 2003 New Facility Underscores the Growing Importance of the Company's Footwear Business Columbia Sportswear Columbia Sportswear Company NASDAQ: COLM is a United States company that manufactures and distributes outerwear and sportswear. Founded in 1938 by the late Paul Lamfrom, father of present chairperson Gert Boyle, the company is headquartered in Portland, Oregon. Company (Nasdaq:COLM COLM Column COLM Colorado National Monument (US National Park Service) COLM Committee On Lay Ministry ) today announced its intention to construct a new footwear distribution center in Henderson County, Kentucky Henderson County is a county located in the U.S. state of Kentucky. It was formed in 1799. As of 2000, the population was 44,829. The county seat is the City of Henderson6. . This will be Columbia's second U.S.-based distribution center. The Company expects the construction of the distribution center to begin in Fall 2003 with operations commencing in 2005. "The construction of this new facility underscores Columbia's commitment to our growing footwear business and our continued dedication to customer service," said Tim Boyle Tim Boyle (born January 28, 1984) is an Australian rules football player, playing forward with the Hawthorn Hawks of the Australian Football League. His career has been plagued by injuries. , Columbia's president and chief executive officer. "We have identified the Midwest and East Coast as key regions where cold weather outdoor activities requiring inclement in·clem·ent adj. 1. Stormy: inclement weather. 2. Showing no clemency; unmerciful. in·clem weather footwear are consistently popular, and where the Company can continue to grow its active, outdoor and authentic brand image." From 1998 to 2002, direct net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the Company's footwear line in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. increased at a compounded annual growth rate of approximately 24 percent. The new facility will be approximately 428,000 square feet and will be used primarily for the distribution of Columbia and Sorel-brand footwear lines. The Company estimates that the total costs of the project will be approximately $40 million, including the cost of the 68 acre site. The new Kentucky facility will enable cost-effective, two-day product delivery to Columbia's East coast and Midwest customers, an area representing approximately 70% of Columbia's footwear business. Columbia currently distributes footwear and apparel from its 829,000 square foot, Portland, Oregon- based facility. "We are pleased with the outcome of our search for a new site and look forward to working with the people of Kentucky on this exciting project," said Boyle. Columbia estimates that the facility will need approximately 90 employees during the first year of operation. PerloMcCormackPacific of Portland, Oregon (involved in previous Columbia building The Columbia Building was Louisville, Kentucky's second skyscraper, designed by Cornelius Curtin and completed in 1890 at a cost of $1 million. It was located at the northwest corner of Fourth and Main streets, and built of pressed red brick in the Romanesque style. projects) has been selected as the general contractor for the facility. Founded in 1938 in Portland, Ore., Columbia Sportswear Company is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel and footwear. As one of the largest outerwear manufacturers in the world and the leading seller of skiwear ski·wear n. Clothing appropriate for various types of skiing. in the United States, the Company has developed an international reputation for quality, performance, functionality and value. To learn more about Columbia Sportswear, please visit the Company's Web site at www.columbia.com. This press release contains forward-looking statements. Forward-looking statements include any statements related to our expectations regarding future performance or conditions, and include the statements regarding project costs, construction and operation commencement dates, staffing, and growth of our footwear business in future periods. These forward-looking statements, and others made from time to time, are subject to many risks and uncertainties. Actual results could differ materially from those projected in these and other forward looking statements as a result of a number of risks and uncertainties, including those set forth in this press release, those described in the Company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the period ended March 31, 2003, under the heading "Factors That May Affect Our Business and the Price of Our Common Stock," and other risks and uncertainties that have been or may be described from time to time in other reports filed by the Company, including reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , Form 10-Q, and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Risks factors that may affect future revenues, earnings and deliveries include, but are not limited to, the Company's ability to finalize agreements to complete the land acquisition and construction of the new facility, the Company's ability to achieve and manage growth effectively; effective implementation and expansion of the Company's and third party's computer systems; the Company's ability to successfully integrate a new facility into existing operations; the availability of labor, raw materials and other resources on favorable terms; and the Company's ability to obtain any necessary governmental approvals in a timely manner. We do not undertake any duty to update any of the forward-looking statements after the date of this release or to conform them to actual results or to changes in circumstances or our expectations. |
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