NEW'S OUT GOOD NEW'S
Mutiny Wakeboards Acquisition to Double Market Share for Action Sports International Inc.
Business Wire - April 29, 1999 12:07
IRVINE, Calif.--(BUSINESS WIRE)--April 29, 1999--Action Sports International Inc. (OTC BB:ACTB) Thursday announced its acquisition of Mutiny(TM), one of the top names in the wakeboarding industry.
Mutiny(TM) Wakeboards, which is well-recognized by the public for its "core" appeal and a leader in the industry, joins Stinger(TM) Wakeboards, which is known for its technological edge.
"The fact that Mutiny(TM) has now combined with Action Sports' state of the art factory and team of engineers allows us to develop a very unique and innovative board that is the first choice among 'core' wakeboarders," said Lambert Vander Tuig, chairman of Action Sports International.
"Team riders Josh Smith, Thomas Horell and Eric Schmaltz not only will continue to ride for us, but will remain as part of the management of Mutiny(TM), much as they were before. The Mutiny acquisition will allow us to double our market share within the wakeboarding sector, since we already have approximately 5-6 percent of the market with our Stinger Wakeboards(TM) label, taking us to approximately 11 percent of the Wakeboard demand."
Action Sports International is a multidimensional company that manufactures, distributes and licenses Generation X and Y products. They currently own the trademarks and licenses to Stinger Wakeboards(TM), Mutiny(TM), Edge Snowboards(TM), and Diakka(TM). For further information visit the company's Web site at actionsportsintl.com.
Except for historical matters contained herein, the matters discussed in this news release may contain forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. These forward-looking statements may reflect assumptions and involve risks and uncertainties that may affect Action Sports International's future business and prospects and could cause actual results to differ materially from these forward-looking statements.
CONTACT: Action Sports Int'l, Irvine
949/789-0111
Web site: actionsportsintl.com
--------------------------------------------------------------------------------
%CA-ACTION-SPORTS-INTL ACTB %CALIFORNIA %SPORTS %PRODUCT %MERGERS %ACQ V%BW P%BW
|
