Escalade Increases Ownership in Sweden Table Tennis AB
EVANSVILLE, Ind., May 7 /PRNewswire-FirstCall/ -- Escalade, Inc. (Nasdaq: ESCA) announced it has increased its ownership interest in Sweden Table Tennis AB from 37.5% to 50%. Sweden Table Tennis AB owns the STIGA table tennis brand name and is the recognized leader in table tennis design and engineering. STIGA is widely recognized as the "professional standard" in table tennis tables and accessories. For the year ended December 31, 2002, Sweden Table Tennis AB reported revenues of $12.8 million, an increase of 26% over the prior year. The Company continues to be profitable, and is very optimistic about future growth prospects. Escalade Sports, a wholly owned subsidiary of Escalade, Inc. and the largest producer of table tennis tables in the world, utilizes the STIGA brand name on its high-end professional grade tables. "In addition to identifying us as a world class supplier of professional table tennis tables and equipment" stated Dan Messmer, President of Escalade Sports, "our relationship with Sweden Table Tennis AB gives us access to the latest developments in product designs and materials. Increasing our ownership interest enhances a close and profitable relationship." Escalade Sports manufactures and distributes a full line of sporting goods products including Table Tennis Tables and equipment, Pool Tables and equipment, Basketball Systems, Game Tables, Archery equipment, Darting Products and Fitness equipment. For more information about Escalade Sports, contact Phil Piccolo, Vice President of Marketing, 817 Maxwell Avenue, Evansville, Indiana 47711, 812-467-1200 or visit the company website at: www.escaladesports.com . Escalade is a quality manufacturer and marketer of sporting goods and office/graphic arts products sold worldwide by better resellers. For more information on Escalade, Inc., please contact John R. Wilson, Vice President and CFO at 812/467-1265 or C.W. (Bill) Reed, President and CEO at 260/569-7233.
SOURCE Escalade, Inc.
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