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 Kemflo
Kemflo 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.