News
SRAM nabs Zipp
Carlton Reid Sep 23 2007, 4:15am
Composites wheel manufacturer added to SRAM's brand portfolio
SRAM and Zipp have signed a Non-Binding Letter of Intent for SRAM to acquire Zipp.
The acquisition is expected to be completed within two months.
Stan Day, CEO of SRAM said: “Zipp is a great company and respected brand, with a strong management team, advanced technology and superb manufacturing capability.”
Andy Ording, president of Zipp said: “Zipp has remained focused on market defining technology development in advanced composites and aerodynamics.
After nearly two decades of carbon product manufacturing the SRAM opportunity provides additional horsepower and improved global market leverage.”
Upon acquisation, the Zipp management team will remain intact and continue to report to Andy Ording. There will be no layoffs.
Zipp's high-tech Indianapolis factory remains.
