ANNOUNCEMENT Horizon Hobby, Inc. Acquires Athearn Trains Posted: 01/05/2004
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------ Horizon Hobby, Inc. Acquires Athearn Trains Champaign, IL - Horizon Hobby, Inc. is pleased to announce that it has purchased Athearn Trains of Compton, CA, a leading manufacturer of model train products. Athearn's headquarters will remain in southern California under the continued leadership of its President, Tim Geddes, who has been an executive at Athearn since 1994. Product support and warranty repair service will also remain in the Athearn facility, along with product development and manufacturing.
Athearn's management and staff will remain the same and Athearn's production and new release plans will continue uninterrupted throughout the transition, including the production of Athearn's traditional "blue box" kits and it's Ready-to-Roll?, Genesis? and Athearn N scale products. The development and production of the exciting, new products is continuing as planned, including the recently announced sound-equipped HO scale "Challenger" steam locomotive, the HO scale SD70 MAC locomotive, the N scale Coalporter and the N scale Automax. The only significant change resulting from the acquisition is that after March 1, 2004, Horizon will become the exclusive distributor of all subsequently released Athearn products and all new production of existing Athearn products.
This new business combination, allows two leading companies in the model railroad industry to join together in a unique way. In commenting on this new acquisition and alliance, Horizon Chairman Rick Stephens stated, "Since we began distributing model train products in 1996, we have been committed to providing model train retailers with the best service and selection. The acquisition of Athearn truly emphasizes how seriously we take that commitment. From its inception in 1943, Athearn has had a reputation as a pioneer and an innovator serving the model train hobbyist. Athearn's sixty-year history of developing and delivering quality and value in model railroading is a perfect fit with Horizon's focus on innovation and service. It's exciting to think about adding our marketing strengths to the knowledge and expertise of the people of Athearn. We expect great things to come out of this for dealers and the industry, as well as Horizon."
Tim Geddes the President of Athearn, Inc. commented, "We are extremely proud and pleased to be able to form this affiliation and permanent relationship with Horizon Hobby, as we feel it will help Athearn best realize its future potential. Under this new arrangement and structure, we will be able to turn over the major advertising, marketing and distribution efforts to Horizon and use their outstanding expertise for those important activities. We will be able to focus our energies and attention on the continued enhancement and expansion of our product line and on the careful and detailed development of new products to meet the wishes of our customers. As we are maintaining a significant continued involvement in Athearn's future, we are especially pleased to join with a company who shares our strong commitment to customer service."
Interested retailers can contact Horizon Hobby toll free at (800) 535-5551 or via e-mail at snipped-for-privacy@horizonhobby.com.