YAKIMA, LEADING DESIGNER AND MANUFACTURER OF VEHICLE CARGO
MANAGEMENT EQUIPMENT, ANNOUNCES MERGER WITH KEMFLO INTERNATIONAL CO.
LTD., LONG-TERM SUPPLY CHAIN PARTNER
Monday, December 28, 2009
Company Positioned to Expand its Global Presence
BEAVERTON, Ore. (December 28, 2009) –– Yakima, a
leading designer and manufacturer of vehicle cargo management solutions,
today announced its merger with Kemflo International Co. Ltd., a
long-term strategic supply chain partner with headquarters in Taiwan and
business interests in Europe, Asia and the United States. Kemflo is a
leading manufacturer of consumer durables, water filtration, and metal
and electronic products. Yakima, formerly owned by Arcapita, a leading
international investment firm, will become a subsidiary of Kemflo. The
company will operate as an independent subsidiary with existing
operations, product, marketing, sales, customer management and
administrative functions remaining in Beaverton, Ore. Harris Williams
& Co. acted as the exclusive advisor to Yakima.
"Yakima, the
leading cargo management equipment brand in the United States, is an
iconic brand with a loyal consumer following," said C.S. Lin, CEO of
Kemflo. "We have had the pleasure of serving as a strategic supply chain
partner with Yakima for the last nine years and have first hand
knowledge of the opportunity for growing the brand both in the U.S. and
internationally. We look forward to working closely with its
experienced management team to grow the brand, expand its capabilities
and bring more consumers into the Yakima family. Kemflo will bring new
resources to Yakima, resulting in optimized sourcing, an enhanced supply
chain, and more efficiency in operations and business systems,
overall," said Jerry Heinlen, CEO, Yakima. "The merger enables us to
increase speed to market globally through expanded product development
and market expansion initiatives. As a long-term partner, Kemflo is
familiar with our brand and products and currently manufactures several
products for Yakima."
The company plans to maintain its current
workforce and operational footprint, including its headquarters in
Beaverton, Oregon, manufacturing facilities in Mexico, and its network
of sales agencies across North America and in other countries.
About
Yakima ?Yakima is a world leader in the design and
manufacture of cargo management equipment solutions for outdoor
enthusiasts. Yakima’s products include: vehicle racks for bikes, boats,
ski equipment and gear, a line of cargo boxes and bags for a variety of
needs, as well as high performance multi-sport trailers. Yakima Products
is headquartered in Beaverton, Oregon. For more information, visit
www.yakima.com.
About KemfloKemflo
International Co., Ltd, with headquarters in Pingtung, Taiwan, is a
leading manufacturer of consumer durables, water filtration, and metal
and electronic products with plants located in Taiwan and China. Kemflo
makes a wide range of products under its own brand and for well-known
foreign brands. It has 1,900 employees with offices in Taiwan, China,
U.S. and Europe.
Rumor sounds rather ridiculous to me.