PARIS and MONTREAL, April 7, 2004 (PRIMEZONE) -- FieldTurf Inc. and Tarkett are poised for an historic announcement. Talks between the two companies regarding a strategic alliance have resulted in a letter of intent, signed March 4, 2004.
A binding agreement between the parties is scheduled for April 2004, and will result in the pairing of two successful entities, each with its own unique products and expertise.
Tarkett sports' division is highly regarded internationally, with manufacturing plants around the globe. Their brands include Prestige, the European market leader in infilled turf, as well as flooring, track, tennis and indoor products manufactured from a variety of materials, including PVC, Wood, Linoleum, PU and Textiles.
FieldTurf Inc. is the world leader in the new generation of infilled artificial turf systems. FieldTurf, highly recognized for its patented products and installation technologies, is found in more than 800 high profile stadiums, universities, schools and parks worldwide.
"Tarkett Sports acknowledgement of the validity of the FieldTurf patents would be a strong signal in the marketplace. It would enable us to strengthen our worldwide market share," said Regis de Boissieu, President of the Commercial and Sport division of the Tarkett Group. "Our alliance with FieldTurf will provide a significant opportunity for growth in North America for our range of indoor and tennis products."
"The strength of our patents and IP have attracted many suitors, but the recent discussions with Tarkett would indicate a perfect fit in every way," said FieldTurf CEO, John Gilman. "This relationship would bring together two world leaders and provide an exciting opportunity where the whole will be infinitely greater than the sum of its parts. We look forward to working with Tarkett toward expansion in all areas of the sports surfacing industry."
For further information, please contact:
Tarkett group: Regis de Boissieu Regis.deboissieu@tarkett.com FieldTurf Inc. John Gilman 800-724-2969 jgilman@FieldTurf.com