Cycle Country Completes Acquisition of Simonsen Iron Works; Deal Solidifies 25-year Working RelationshipMILFORD, Iowa--May 2, 2005--Cycle Country Accessories (AMEX:ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced that it has formalized its 25-year working relationship by acquiring the assets of Simonsen Iron Works. The deal was completed at a closing Friday.
"This is a special day for the employees, customers, and communities of Cycle Country and Simonsen Iron Works," said Ron Hickman, President and CEO of Cycle Country Accessories Corporation. "Combining efforts of these two home-town, made-in-America companies will provide a more efficient process and product from which everyone can benefit."
Shareholders will find increased earnings per share through this acquisition through a pronounced effort on growing the Simonsen Iron Works product through Cycle Country. Simonsen Iron Works, based in Spencer, IA, is a fourth generation family-run business dedicated to developing high quality solutions for custom manufacturing needs since 1906. The services they provide include laser and plasma cutting, turret punching, tube bending, CNC machining, powder coating and more.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).