SRAM Corporation is pleased to announce the acquisition of Avid LLC. Over the last decade Avid has
become recognized as an authentic innovator in the design and manufacture of brake systems for the
bicycle industry. The acquisition by SRAM marks a major milestone for both SRAM and the Avid brand.
“We are excited about the prospects” stated Stan Day, President and CEO of SRAM Corporation.
“Avids growth has been impressive and the brand is strong. SRAM can now offer leading edge brake
components to compliment our drivetrain systems. We are committed to becoming a full range
component supplier to the bicycle industry. Avid brake systems are key to achieving our commitment.”
Detailed integration plans with Avid are being formulated. The current plans include:
- OEM sales will be conducted by Avid personnel for the MY05 selling cycle. These responsibilities will
be integrated into the SRAM team for MY06.
- Order processing and customer service for Avid products will be handled through their standard
channels. We anticipate integrating these into SRAM starting June 1, 2004.
- Manufacturing will stay with Avids current suppliers. These suppliers will be supported by SRAM
engineering and manufacturing resources where appropriate.
- Wayne Lumpkin, founder and President of Avid, will continue to lead Avid operations through the
MY05 production ramp up. He will then move into an advanced development role for SRAM. Wayne
will be based in Denver and work closely with our Colorado Springs development group.
SRAM said that they are “excited about the inclusion of Avid within the SRAM product range. We are
convinced that the combined strengths of Avid and SRAM promise outstanding product development and
business opportunities for the industry.”