SRAM Corporation, the Chicago bicycle component maker, announced that
it completed its acquisition of speedway carbon wheel maker
Compositetech Inc., which makes products under the Zipp name.

The Zipp management team will remain intact and continue to report to
Andy Ording, president of Zipp. Ording will report to Stan Day, CEO of
SRAM. There will be no layoffs as a result of the transaction.

Day said, “Zipp is a great company and respected brand, with a strong
management team, advanced technology and superb manufacturing
capability. We look forward to bringing both successful companies
together and synergistically delivering a growing strategic range of
products to our customers.”

Ording 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. SRAM has a
fine reputation for acquisitions and culture integration, affording us
the opportunity to broaden our foundation on which the Zipp team can
build for the long term.”