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.

William Knooihuizen, Kik’s former president, has joined Amerityre in a senior account management position. “I am looking forward to working with the Amerityre management team to integrate the Kik line of tyres into the Amerityre product lineup. I am also happy to remain in a position to help Amerityre support the former Kik customers that have been so loyal over the years,” commented Knooihuizen.

In February, Amigo Mobility, a manufacturer of mobility products, chose Amerityre’s Flatfree polyurethane tyres as original equipment on the Amigo Mobility SmartShopper. It is estimated that Amerityre will initially supply Amigo Mobility with approximately 25,000 tyres per year.