This press release includes statements which may constitute forward looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that...Strategic Alliance Agreement • January 6th, 1997 • Royal Grip Inc • Fabricated rubber products, nec
(December 23, 1996) - PHOENIX, Arizona - Royal Grip, Inc. (NASDAQ: GRIP), a leading golf grip and sports headwear manufacturer, announced a strategic alliance/partnership with Acushnet Rubber Company. Beginning January 1, 1997 Acushnet will become the manufacturer and supplier of golf grips to Royal Grip. Acushnet will acquire all of Royal Grip's existing golf grip manufacturing equipment pursuant to a capital lease agreement. Royal Grip will discontinue all golf grip manufacturing operations as of December 22, 1996. Financial terms of the transaction were not disclosed. Royal Grip will continue to manufacture the Roxxi headware line at its Oklahoma facility, focusing on continued revenue growth and production efficiencies.
