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K2 Corp

BUSINESS
October 21, 2003 | From Bloomberg News
Sporting goods maker K2 Inc. said Monday that it bought closely held WinterQuest for an undisclosed amount of cash, K2 common stock and debt. The transaction was the Carlsbad, Calif.-based company's fifth acquisition this year. WinterQuest, which produces snowshoes under the Tubbs and Atlas brands, had sales of $18.6 million in the fiscal year ended March 31, K2 said. K2 has bought several sporting-goods companies this year as part of its plan to expand and diversify its product lines.
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BUSINESS
August 1, 2003 | Elizabeth Kelly, Times Staff Writer
Sporting goods manufacturer K2 Inc. said Thursday that it intends to buy privately held ball and bat maker Worth Inc., a deal that would make the Carlsbad, Calif.-based company one of the top U.S. producers of baseball and softball equipment. In March, K2 added Rawlings Sporting Goods to its roster of brands, which include Shakespeare fishing rods, Olin skis, Ride snowboards and Stearns water sports gear. On the New York Stock Exchange, K2 shares rose 61 cents to $16.50, a 52-week high.
BUSINESS
December 22, 2002 | Jerry Hirsch, Times Staff Writer
Richard Heckmann has no problem leaving others behind. Once on an East Coast business trip, the then-chairman of USFilter wanted to hurry back to California to make his son's baseball game. When the water company's executives gathered at the airport for the flight home, one manager was missing. Heckmann ordered the private aircraft to take off without him.
BUSINESS
December 17, 2002 | Jerry Hirsch, Times Staff Writer
An angry shareholder is already calling "foul" over Los Angeles-based K2 Inc.'s announcement Monday that it will buy baseball equipment manufacturer Rawlings Sporting Goods Inc. for $84 million in stock. The deal, which also includes the assumption of about $40 million in Rawlings debt, would be the first for K2's new chief executive, Richard Heckmann. He has an aggressive plan to turn the ski and snowboard maker into a major sporting goods company by acquiring other name brands.
BUSINESS
July 20, 2001 | Bloomberg News
K2 Inc., a maker of skis and snowboards that began moving some production to Asia in 1999, said it will close four U.S. plants and shift more manufacturing to China to reduce expenses. The move will eliminate 450 jobs, or about 16% of the Los Angeles-based company's work force. K2, which also makes other sporting goods, plans to close its ski-making facility in Vashon Island, Wash., and three smaller plants in Minnesota and Alabama.
BUSINESS
October 25, 1997 | PATRICE APODACA, TIMES STAFF WRITER
Ski equipment giant K2 Inc., hoping to capture more business from sporting enthusiasts, has acquired Katin USA Inc., a well-known Costa Mesa surfwear company with roots dating back to the early days of the Southern California surf scene. The firm was sold this week to Los Angeles-based K2 by Bill Sharp and Rick Lohr for undisclosed terms. The pair will remain with Katin as president and vice president, respectively.
BUSINESS
November 19, 1999 | Bloomberg News
K2 Inc. said it will move half of its ski and snowboard manufacturing from Seattle to Southern California and China and will have suppliers make its bike products to cut costs. The Los Angeles-based sporting goods company will make only high-end skis in Seattle after the move of production to plants it owns in Corona and China by year-end. The Corona plant, which K2 acquired with its recent purchase of Ride Inc., will house manufacturing of mid- to high-end snowboards.
BUSINESS
August 29, 2001 | From Associated Press
Volant Sports, one of only two companies still making skis in the United States, shut its manufacturing plant in Wheat Ridge, Colo., and laid off 95 workers after failing to raise enough cash to keep operating. The 12-year-old company said it is talking with two possible buyers, but declined to identify them. A spokesman said the company has no plans to reorganize or file for bankruptcy protection. The company blamed its problems on high manufacturing costs and low cash flow.
OPINION
July 4, 1999
Will it be ever thus? Large quantities of oil and gas possibly reside under the Blackfeet Indian Reservation in northern Montana (June 28), and once again we are faced with the prospect of developers trashing a pristine environment in the name of jobs, contracts and royalties. I don't question the Blackfeet Tribal Council's motives for at least considering this deal with the devil, but the irreversible destruction of nature and wildlife in exchange for partial relief of their economic problems is a price all Americans will ultimately pay. What in blazes is K2 Energy Corp.
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