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Excel köper Fiberspar!!
EXEL TO PURCHASE FIBERSPAR PERFORMANCE PRODUCTS
Exel Oyj (Exel), a manufacturer of high-performance composite products for sporting goods and industrial applications, has announced that it has entered into an agreement to acquire Fiberspar Performance Products, the sporting goods subsidiary of Fiber Spar and Tube Corporation. Fiberspar Performance Products is the manufacturer of high-performance composite products for the windsurfing, hockey and marine markets. Exel Oyj (based in Finland) will acquire the Fiberspar sporting goods business effective May 1, 2000. The acquisition is a part of Exel’s long term strategy of strengthening its’ technical performance position in the rapidly growing market of composite sports equipment.
Fiberspar, founded in 1986, has focused on the development and commercialization of proprietary product designs and methods of manufacture of high strength composite materials. Fiberspar technology has achieved an impressive track record in the markets it has served. Fiberspar products have been used by twelve consecutive world champions in windsurfing, three consecutive leading scorers in the National Hockey League, and three consecutive winning America’s Cup teams in sailing.
Exel’s President and CEO, Ari Jokelainen said, ”The acquisition of Fiberspar Performance Products strengthens our position as a supplier of high-performance composite products for both the windsurfing and hockey industries and will allow us to expand our product offering and continue to meet the high expectations of consumers worldwide.”
Operations in West Wareham, Massachusetts will continue as normal with the sales, marketing and distribution of Fiberspar brand windsurfing, marine and hockey products remaining in the current facility. Production of the entire 2000 range of products will continue in the U.S.A. through the end of the year 2000. Effective May 1, the facility will become part of Exel USA Inc. and current Fiberspar Performance Products’ personnel will be employed by Exel USA Inc. After the transition period, on or about January 1, 2001, production will shift to Exel’s MŠntyharju, Finland factory to take advantage of synergies with current production and increased cost-effectiveness.
Fiberspar’s Vice President, Sales and Marketing Bob Hunnewell said, ”We will maintain the same high standard of service our customers currently experience as we move through the acquisition by Exel. We are committed to providing our customers with consistently high performance and high quality products. It is our intent to maintain the same strong business relationship and communication with our distributors and retailers as we have always had and every effort will be made to make a smooth and seamless transition. We are also excited with what the Exel organization can offer. Exel has tremendous strength and experience in manufacturing high performance composite products. This will allow us to focus more of our efforts on servicing the needs of our customers and growing the Fiberspar brand.”
For further information, please contact either:
Bob Hunnewell
Vice President, Sales & Marketing
Fiberspar Performance Products
508-273-1140
Ari Jokelainen
President
Exel Oyj
011-358-50-590-6750
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