The head of German sportswear giant Adidas-Salomon AG, Herbert Hainer, said on Sunday his firm was not planning any acquisitions and would focus on cutting its debts.

Speaking to German Euro am Sontag, Hainer said: "On the one hand, we're very well positioned with our golfing unit Taylor Made and the Adidas and Salomon brands, so we need no additional acquisitions. On the other hand we want to reduce our debt."

He added that the company slashed its debts by 200 million euros in the first half of this year and planned to reduce them by 100 million to 200 million euros a year for the next few years.

Separately on Sunday, Frankfurter Allgemeine Zeitung reported that Adidas-Salomon expects new high-end training shoes to boost margins in the US and Canada between 2002 and 2004.

The paper said that its two new high-tech brands "Clima Cool" and "a3" will boost profits as will its heavy investment in the lucrative basketball shoe market.