Chicago, Illinois - February 19, 2002 - SRAM Corporation is pleased to announce that it has signed a definitive agreement to purchase RockShox Inc. The agreement includes working capital and an anticipated transaction closing date in mid-March.
"The management teams at SRAM and RockShox are very excited about bringing these two great companies together. The integration of RockShox's full line suspension within SRAM's core product groups will contribute significantly toward SRAM's mission of being the most valuable supplier to the industry", said Stan Day, President of SRAM. "We believe that our new larger organization with full product lines in drivetrain, suspension, and brakes will better serve our customers. The timing is perfect as issues of supply chain management are a top priority to bike factories and aftermarket distributors globally."
SRAM and RockShox managers will be working on an integration plan that will be completed by June. Aspects of this plan will be presented at a SRAM press conference during this years Taipei International Bicycle Show.
In the near term, the ongoing introduction of 2003 products, manufacturing, sales and customer service will remain the responsibility of the respective management groups at SRAM and RockShox. Customers should therefore continue to contact the companies separately with respect to these issues.
