Shimano Acquires PowerPro

NEWS RELEASE – for immediate distribution

SHIMANO AMERICAN ACQUIRES INNOVATIVE TEXTILES –
MAKER OF POWER PRO FISHING LINE

IRVINE, Calif. – December 31, 2008 – Shimano American Corporation, Irvine, Calif., has completed its agreement to acquire Innovative Textiles, Inc., the company best known as the makers of PowerPro braided fishing line, announces Dave Pfeiffer, Shimano American president.

While maintaining manufacturing operations and staff at its facility in Grand Junction, Colo., Pfeiffer notes the Innovative Textiles sales and marketing efforts will be transitioned to Shimano American’s operations in time for the ICAST show this coming July in Orlando.
“The extensive background that Konrad Krauland and his team at Innovative Textiles have in braiding and textile engineering is one of the key assets of our acquisition,” said Pfeiffer. “Krauland will join our management team as a vice president, focusing on production, coordinating manufacturing and new product development with Shimano offices worldwide.”
Pfeiffer further notes that Shimano will aggressively market the PowerPro branded products to the international sportfishing market. “While Konrad and Innovative Textiles have become a leader in braided fishing lines here in the U.S., the connection now with Shimano will allow us to grow the business throughout Asia, Australia, Canada, Europe and Latin America.
Established in 1992, Innovative Textiles introduced PowerPro braided fishing line to the market in 1997. The company first started making Spectra fiber braid for kite flying, plus Krauland and his engineering staff were involved with other companies who needed their braiding expertise for some of the first braided fishing lines.
“To be able to make that next big leap, from a strong brand in the U.S. fishing market to one that will have solid global presence, we couldn’t be happier now being part of Shimano American Corporation,” said Krauland. “As we integrate our Grand Junction operations into Shimano’s operation in Irvine and sales offices around the globe, we look forward to working on the next innovations in fishing line technology and other new products over the next years.”
Shimano American Corporation is the U.S.-based subsidiary of Shimano, Inc. a multi-national manufacturer of bicycle components and fishing tackle. It now has operations in Irvine, Calif., Grand Junction, Colo., Woodland, Wash., Louisville, Colo., Peterborough, Ontario, and Kirchzarten, Germany.
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