Power Sports Factory Announces Strategic Partnership with Boyesen Engineering
PENNSAUKEN, N.J.--Power Sports Factory, Inc. (OTCBB:PSPF), announced today that it signed a letter of intent with Boyesen Engineering. The two companies have agreed to form a new wholly owned subsidiary of Power Sports Factory to design, manufacture and distribute all-new proprietary products and exclusively market all patented engine technologies owned by Boyesen Engineering. Additionally, the companies will cross-market existing core products into their established distribution channels.
"We are very excited about working with Boyesen and leveraging their worldwide reputation and impressive distribution channels,” said Shawn Landgraf, CEO of Power Sports Factory. "The addition of major OEM and Performance Parts to our existing business is a great strategic extension of our core business. We intend to leverage all our assets, including Boyesen’s brand, to become the leader in the motorcycle and scooter parts industry. We are especially excited about their proprietary engine technology which improves fuel efficiency, reduces carbon footprint and boosts engine performance.”
About Power Sports Factory, Inc.:
New Jersey based Power Sports Factory, Inc., is wholly owned by Power Sports Factory, Inc. (OTCBB: PSPF). Power Sports Factory imports, markets and distributes motorbikes principally under the “Andretti” and “Yamati” brands. Additional information is available on the Power Sports Factory website at http://www.powersportsfactory.com and www.sec.gov. Power Sports Factory is the only company with motorbikes endorsed by racing legend Mario Andretti. The Andretti line combines top performance, competitive pricing and cutting-edge European design from Benelli. Benelli is the designer of some of the best motorcycles and motorbikes in the world. The Andretti/Benelli line is also known for its high-quality construction and superior styling making it the smart choice for consumers. With today’s volatile price of fuel, motorbikes are a smart alternative for people looking for superb gas mileage.
BikeShareSource™ is the Company’s recently launched alternative transportation division. This new division markets bike sharing systems to municipalities and transit agencies, property managers and real estate developers, colleges and universities, military institutions, hotels, parks and other transportation related businesses. Additional information is available on the BikeShareSource website at www.bikesharesource.com.
About Boyesen Engineering:
Boyesen Engineering is the premier innovator, manufacturer and supplier of parts to the Motocross, Snowmobile, ATV, Motorcycle and Outboard Marine Markets. Founded in 1972 by Eyvind Boyesen, the company has an elite history in the Power Sports Industry.
Additional info available at www.boyesen.com
The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Factors that may cause actual results to differ materially from those expressed or implied by its forward-looking statements include, but are not limited to, Power Sports Factory's limited operating history and business development associated with being a growth stage company; its dependence on key personnel; its ability to execute its business strategy; the intense competition it faces; risk associated with disruptions of its international supply chain; its exposure to product liability claims resulting from the use of its products; general economic and capital market conditions; its ability to raise additional capital; as well as those risks described under the heading "Risk Factors" of Power Sports Factory's Form 10-KSB/A, filed with the Securities and Exchange Commission on August 18, 2008. Although Power Sports Factory, Inc. believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct.