MatthewUSMC8791
07-10-2013, 07:43 PM
TenPoint Crossbow Technologies
1325 Waterloo Road
Mogadore, OH 44260
www.tenpointcrossbows.com
For Immediate Release
TenPoint Purchases Horton Assets
Mogadore, OH. Rick Bednar, Chairman, President, and CEO of Hunter’s Manufacturing Company , Inc., dba TenPoint Crossbow Technologies, manufacturer of premium level crossbows recognized for their precision performance, quality engineering, and dependability, has announced that his company purchased selected assets of former competitor, Horton Archery LLC, Kent, OH, effective July 1, 2013.
“Recently it appeared that Horton’s ability to operate deteriorated.” Bednar said. “The company released most of its employees in April, and its primary (secured) creditor finally took possession of all Horton’s assets, and closed its doors. We have purchased machinery, equipment, and other selected assets, including trademarks, licenses, and the rights to the Horton name from the secured creditor. It is important to understand that we did not purchase the Horton Archery LLC operation. That operation no longer exists, and TenPoint will not continue making or servicing any of Horton’s current or past bow models.”
“To put all of this in simple terms,” Bednar continued, “our research made it clear that it was neither functionally nor financially prudent to resume the Horton manufacturing and servicing operations. We intend to spend the months ahead creating a new company with a new lineup worthy of the storied Horton name. We expect to reintroduce the new company as soon as it is feasible. While that effort is underway, we will continue to remain focused on managing TenPoint and our subsidiary, Wicked Ridge Crossbows, as industry leaders in technology and customer service.”
Ironically, Bednar was one of the four investors who created the original Horton USA brand in 1985. He served as its Chief Operating Officer from its inception until 1991, when he sold his stock and left the organization. At the time, Horton was approaching the apex of its reputation. In 1994, Bednar formed Hunter’s Manufacturing Company, Inc. dba TenPoint Crossbow Technologies. Since Bednar left Horton, different entities have tried to reorganize the brand three times but have never succeeded.
Bednar believes the entities strayed from Horton’s original founding principles, and signed on to a plan that included imported engineering and offshore parts. The original Horton relied on quality customer service and manufacturing, exceptional value, and responsiveness to the marketplace - similar principles that have propelled TenPoint Crossbows to its current position as a market leader. He is firm in his belief that he can re-instill these principles in a new Horton brand.
Bednar is proud of his successful tenure at Horton and clearly relishes the opportunity to bring the brand back to its former position of prominence as a standard-bearer in the industry. “I wish my Dad were still here to witness this.” He said. “We used to talk about the possibility of someday getting the brand back. When you play a part in creating something of value, there is no pleasure in watching it lose its luster, even when it is a competitor. I want to make the brand better than ever.
1325 Waterloo Road
Mogadore, OH 44260
www.tenpointcrossbows.com
For Immediate Release
TenPoint Purchases Horton Assets
Mogadore, OH. Rick Bednar, Chairman, President, and CEO of Hunter’s Manufacturing Company , Inc., dba TenPoint Crossbow Technologies, manufacturer of premium level crossbows recognized for their precision performance, quality engineering, and dependability, has announced that his company purchased selected assets of former competitor, Horton Archery LLC, Kent, OH, effective July 1, 2013.
“Recently it appeared that Horton’s ability to operate deteriorated.” Bednar said. “The company released most of its employees in April, and its primary (secured) creditor finally took possession of all Horton’s assets, and closed its doors. We have purchased machinery, equipment, and other selected assets, including trademarks, licenses, and the rights to the Horton name from the secured creditor. It is important to understand that we did not purchase the Horton Archery LLC operation. That operation no longer exists, and TenPoint will not continue making or servicing any of Horton’s current or past bow models.”
“To put all of this in simple terms,” Bednar continued, “our research made it clear that it was neither functionally nor financially prudent to resume the Horton manufacturing and servicing operations. We intend to spend the months ahead creating a new company with a new lineup worthy of the storied Horton name. We expect to reintroduce the new company as soon as it is feasible. While that effort is underway, we will continue to remain focused on managing TenPoint and our subsidiary, Wicked Ridge Crossbows, as industry leaders in technology and customer service.”
Ironically, Bednar was one of the four investors who created the original Horton USA brand in 1985. He served as its Chief Operating Officer from its inception until 1991, when he sold his stock and left the organization. At the time, Horton was approaching the apex of its reputation. In 1994, Bednar formed Hunter’s Manufacturing Company, Inc. dba TenPoint Crossbow Technologies. Since Bednar left Horton, different entities have tried to reorganize the brand three times but have never succeeded.
Bednar believes the entities strayed from Horton’s original founding principles, and signed on to a plan that included imported engineering and offshore parts. The original Horton relied on quality customer service and manufacturing, exceptional value, and responsiveness to the marketplace - similar principles that have propelled TenPoint Crossbows to its current position as a market leader. He is firm in his belief that he can re-instill these principles in a new Horton brand.
Bednar is proud of his successful tenure at Horton and clearly relishes the opportunity to bring the brand back to its former position of prominence as a standard-bearer in the industry. “I wish my Dad were still here to witness this.” He said. “We used to talk about the possibility of someday getting the brand back. When you play a part in creating something of value, there is no pleasure in watching it lose its luster, even when it is a competitor. I want to make the brand better than ever.