Amerityre Acquires Kik Technology Assets
Amerityre Corporation has bought “a significant portion of the manufacturing assets of Kik Technology, Inc. (Kik), itself a polyurethane foam tyres maker. The assets acquired include tyre models and moulds used by Kik to produce low-duty cycle polyurethane foam tyres. Kik will cease business operations.
“The acquisition of the models and moulds provides Amerityre with the capability to produce a broader range of products to better service the low-duty cycle tire market,” commented Dr. Gary N. Benninger, Amerityre’s President and Chief Executive Officer. “With this expanded variety of tire products and sizes, Amerityre will now be able to offer its customers a Flatfree tyre for every application. For its fiscal year 2006 (February 1, 2006 to January 31, 2007) Kik reported foam tyre product sales of $1,857,666 and $937,645 for the nine month period ending October 31, 2007,“ he added.