Lynskey Predicts Big Growth For ABG In 2003

CHATTANOOGA, TN (BRAIN)--American Bicycle Group (ABG), the parent company of Litespeed, Merlin, Quintana Roo and Tomac, reported that it grew 39 percent in 2002. Mark Lynskey, ABG's chief executive officer, is predicting further growth this year, despite the weak U.S. economy.

According to the privately held company, the increase is the result of several successful ABG's product line expansions over the last year. Among them were Litespeed's aluminum bike line and three new Merlin models.

The company has grown every year since the Lynskey family founded Litespeed in 1986. The Lynskeys sold Litespeed to JHK Investments in the fall of 1999. JHK later bought Saucony's bicycle division, which included Merlin and Quintana Roo, and formed ABG.

"We have developed a very strong team at ABG. We maintain an aggressive attitude in all aspects of the business. We are very proactive and innovative in product development, the sales and marketing department continues to think 'outside the box' in developing new sales and marketing strategies, and we are continuously expanding our manufacturing capabilities," Lynskey said.

Lynskey said he is bullish on the coming season. "Our expectation for the company is to grow in the 20 to 30 percent range, as the company has done for every year of its existence. I expect that the national and global economic situation may take a further dip in the first and second quarters but, for the year, I believe the economy will end up with single digit gains," he said.