SRAM Appoints New RockShox Boss

Colorado Springs, CO, US (April 4)- SRAM completed its take-over of Rock Shox by appointing Stan Gingrich as the new General Manager of RockShox. Newcomer in the bike sector Stan Gingrich will be advised by his predecessor, former President and CEO of Rockshox Bryan Kelln, who will stay on board as a strategist. Earlier Gingrich was founder and President of automotive supplier SEG Technologies. By March 26, SRAM was granted approval to purchase RockShox by the US Security and Exchange Commission SEC . Shareholders of RockShox are to receive $0,41 per share as SRAM is to acquire some 13,76 million outstanding shares by 8 February, when RockShox nearly filed for bankrupsy after its disastrous 4th quarter. "We are very pleased to complete the sale process and are completely focused on integrating both companies", Kelln said. To spread its strategic focus SRAM will hold a special press conference on Friday 12 April at 15:00 hours during the Taipei International Cycle Show at the Taipei World Trade Center, attended by company executives at SRAM to discuss its plans for RockShox and other global strategies for 2003. (FN)