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October 21, 2004

Lego Co. Likely To Sell Or Spin Off Theme Park Operation

Carlsbad, CA -- Toy maker Lego Co. is struggling this year, facing a huge deficit in the range of $254 million to $339 million for fiscal 2004. As a result the company is looking substantially downscaling its assets that are not associated with the core business, play materials. This move could mean that theme parks will be sold or transferred to a separate company.

Lego Co. has four theme parks around the world, including one in the United States. A parks spokeswoman for the Carlsbad, California theme park said that attendance was up about 10% this year.

According to Lego the theme parks tie up about a third of the company's capital, but account for about one-seventh of its sales.