Rottefella Purchases Naxo
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http://www.telemarktips.com/TeleNews.htm
* 4/26-- Rottefella, makers of the popular Cobra line of telemark bindings, announced today that it has purchased Swiss alpine touring binding manufacturer NAXO AG. Naxo is One of the three main producers of alpine touring bindings, NAXO has become a player in the AT market since its inception in 2001. NAXO says it expects to enjoy sales it AT binding to account for approximately 20% of the world wide market share in next season. Rottefella's deal for NAXO reportedly consists of the purchase of nearly two-thirds of the company's outstanding shares, with an option to acquire the remaining shares within three years.
"We have noticed for a long time now that alpine touring and ?free ride? is becoming a fast growing new trend," says Ulf Bjerknes, president of Rottefella. "This is also the reason why we are focusing hard on launching a new telemark system (the "NTN," or New Telemark Norm). The idea behind NTN and the development of this product will coincide nicely with our investment into NAXO. The world wide market of Alpine Touring is today almost twice the size of telemark and is expected to grow fast in the coming years," continues Bjerknes. "NTN will have a lot of similarities with alpine touring bindings. Among many new features, the NTN boot will have the same geometry as an alpine touring boot and will also fit into an alpine touring binding."