Crocs, Inc. Acquires EXO Italia
October 24 2006 - 8:00AM
Business Wire
Crocs, Inc. (NASDAQ: CROX) today announced that it has acquired EXO
Italia, S.r.l.. Headquartered in Padova, Italy, EXO Italia designs
and develops EVA (Ethylene Vinyl Acetate) based finished products,
primarily for the footwear industry. Since 1993, EXO Italia has
worked with several leading branded consumer companies to produce
high quality EVA based footwear for the global marketplace. Ron
Snyder, President and Chief Executive Officer of Crocs, Inc.,
commented, �EXO is renowned for developing some of the best EVA
based footwear products and we look forward to combining their
industry leading capabilities with our proprietary Croslite
material. EXO�s expertise in design, product, tool, and process
development will be a tremendous asset to us as we look to further
diversify our footwear offerings and attract new consumers to the
Crocs brand.� About Crocs, Inc. Crocs, Inc. is a rapidly growing
designer, manufacturer and marketer of footwear for men, women and
children under the crocs brand. All of our footwear products
incorporate our proprietary closed-cell resin material, which we
believe represents a substantial innovation in footwear comfort and
functionality. Our proprietary closed-cell resin, which we refer to
as croslite� enables us to produce a soft and lightweight,
non-marking, slip- and odor-resistant shoe. These unique properties
make crocs footwear ideal for casual wear, as well as for
recreational uses such as boating, hiking, fishing and gardening,
and have enabled us to successfully market our products to a broad
range of consumers. Forward Looking Statements Certain information
contained in this press release�may be deemed to
constitute�forward-looking statements�within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements to
be materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. These risks and uncertainties include, but are not
limited to, our ability to obtain and protect intellectual property
rights and other factors described in our annual report on Form
10-K under the heading "Risk Factors," and our subsequent filings
with the Securities and Exchange Commission. Readers are encouraged
to review that section and all other disclosures appearing in our
filings with the Securities and Exchange Commission. Crocs, Inc.
(NASDAQ: CROX) today announced that it has acquired EXO Italia,
S.r.l.. Headquartered in Padova, Italy, EXO Italia designs and
develops EVA (Ethylene Vinyl Acetate) based finished products,
primarily for the footwear industry. Since 1993, EXO Italia has
worked with several leading branded consumer companies to produce
high quality EVA based footwear for the global marketplace. Ron
Snyder, President and Chief Executive Officer of Crocs, Inc.,
commented, "EXO is renowned for developing some of the best EVA
based footwear products and we look forward to combining their
industry leading capabilities with our proprietary Croslite
material. EXO's expertise in design, product, tool, and process
development will be a tremendous asset to us as we look to further
diversify our footwear offerings and attract new consumers to the
Crocs brand." About Crocs, Inc. Crocs, Inc. is a rapidly growing
designer, manufacturer and marketer of footwear for men, women and
children under the crocs brand. All of our footwear products
incorporate our proprietary closed-cell resin material, which we
believe represents a substantial innovation in footwear comfort and
functionality. Our proprietary closed-cell resin, which we refer to
as croslite(TM) enables us to produce a soft and lightweight,
non-marking, slip- and odor-resistant shoe. These unique properties
make crocs footwear ideal for casual wear, as well as for
recreational uses such as boating, hiking, fishing and gardening,
and have enabled us to successfully market our products to a broad
range of consumers. Forward Looking Statements Certain information
contained in this press release may be deemed to constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements to be
materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. These risks and uncertainties include, but are not
limited to, our ability to obtain and protect intellectual property
rights and other factors described in our annual report on Form
10-K under the heading "Risk Factors," and our subsequent filings
with the Securities and Exchange Commission. Readers are encouraged
to review that section and all other disclosures appearing in our
filings with the Securities and Exchange Commission.
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