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| Los Alamitos, Calif.--(Business Wire)--June 6, 1996--Crush(tm)
Innovative Sports Systems Inc., a wholly owned subsidiary of Pacific
International Enterprises Inc. (NASDAQ BB: PCIE) has signed a letter of intent
with Norlander Inc., the manufacturer and distributor of Grunge(r) and AXL
snowboard boots, to design, test, manufacture and market snowboard boots
which are compatible with the T-Bone(tm) step-in(tm) snowboard binding.
Under the terms of this agreement, Norlander and CRUSH will jointly design the boot upper and sole which Norlander has agreed to manufacture. Based on these designs, Norlander will produce T-Bone(tm)-compatible snowboard boot soles for Crush. Crush will be responsible for binding, pin plate and hi-back production, and Norlander will assemble these components into the boots. Based on this agreement, Norlander will order and manufacture T-Bone(tm)-compatible boots during the third quarter of 1996. Richard Perkins, president and CEO of CRUSH(tm) commented, "Based on this production agreement we are now positioned to move forward with our aggressive marketing and sales campaign for the 1996-97 season. "We have fine-tuned our system through extensive testing and we believe that we have the manufacturing capacity necessary to begin marketing our high-performance T-Bone(tm) step-in boot and binding system." John Sullivan, director of Norlander stated: "After one and a half years of testing and prototyping, we are confident that our new boot based on the T-Bone(tm) binding has superior performance characteristics which some of the side attaching systems do not have and we are ready to take the system to market in full force. "Norlander has built one of the best reputations in the industry for delivering high-quality snowboard boots and we expect to continue to achieve this recognition based on our T-Bone(tm)-compatible boot." CRUSH(tm) Innovative Sports Systems, a wholly owned subsidiary of Pacific International Enterprises, develops sports-related products, based on its proprietary "quick release" fastening technology, for rapidly growing markets, including snowboarding and in-line skating. CRUSH(tm) products address the deficiencies of current products by providing superior levels of performance, comfort and convenience. CONTACT: CRUSH Innovative Sports Systems Inc. Richard Perkins, 714/816-0200 or Woodbridge & Associates 800/824-4011 or 714/251-3436 |
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