Hextek Technologies and Cape Fear Rod Company Announce the Acquisition of Fin-Nor International.
May 15, 2001 For: Immediate Release Contact : Raiford Trask Hextek Technologies and Cape Fear Rod Company announces the acquisition of Fin-Nor International today. Fin-Nor International was founded in 1933 and is one of the most respected brand names in the fishing tackle industry. Cape Fear Rod Company is a division of Hextek Technologies and manufactures fishing rods from a revolutionary hexagonal patent called Hextek Technologies. Fin-Nor's offices and operations are currently located in Ft. Lauderdale and they will be moved entirely to the Cape Fear Rod Company facility in Wilmington, NC. Fin-Nor will retain a sales office in South Florida. "We are very excited to have Fin-Nor become a part of Th Hextek Technologies family," says Hextek President Raiford Trask. "When you think of fishing tackle leaders, you automatically think of Fin-Nor and Cape Fear Rod Company. We see this a natural addition that will bring major enhancements to both companies. Fin-Nor should see immediate benefit from our customer-driven team philosophies and it will also benefit from our strong product development programs. Fin-Nor's distribution network will be a significant asset to Cape Fear Rod Company." Fin-Nor was one of the first companies involved in development of fine big game tackle and their products were used by pioneers of big game fishing. Anglers like Ernest Hemingway and Zane Grey used Fin-Nor as they broke new ground on the world's oceans. Over the last decade, Fin-Nor has expanded its market share by offering products in the spinning tackle side of the market. "Fin-Nor's customers should expect to see continued improvements in spinning tackle as we evolve," says the Company's Pro Staff Manager, Douglas Cutting. "Cape Fear Rod Company has always been obsessed with the products and you will see that continue to happen with Fin-Nor in both spinning and trolling products. In two short years on the market, Cape Fear Rod Company has established itself as the product leader in premium fishing rods. Cape Fear's products are seen by the industry and the consumer as the top end of the fishing rod market in both quality and performance. Cape fear as also demonstrated a customer service ethic that is unmatched in the industry. "When we entered the market two years ago with a premium product and very little money for advertising, we knew we would have to be the best from top to bottom," Trask says. "We had the best product. We also had to have the best Customer service and Accounting. Our employees are proud of the fact that our customers trust Cape Fear Rod Company with their passion. The industry can expect us to bring this attitude to Fin-Nor immediately. The operational changes will not happen overnight, but our customer services principles will be there from day one."
