LAFAYETTE, Ind., Oct. 21, 2009 (GLOBE NEWSWIRE) -- Ultimate Sports, Inc. (Pink Sheets:USPS), a manufacturer and supplier to the recreational vehicle industry, announced today that the company is currently in negotiations with a major snowmobile manufacturer for the purchase of production skis.
Negotiations with this major manufacturer will eventually allow USI to mass-produce its "Best Ski in the Industry" award-winning X2 skis in-house. More specifically, if successful, USI will be producing tens of thousands of X2 high-performance skis which will be utilized on the manufacturer's top of the line snowmobiles. A finalized contract could also initiate greatly increased production for USI's parts and accessories division.
Kevin Metheny, President of Ultimate Sports, states, "We are in the midst of finalizing negotiations with this major snowmobile manufacturer. This potential contract means we will be producing tens of thousands of award-winning skis and selling them to the major snowmobile manufacturer, thus greatly increasing our revenue. We expect the deal to be put in place by February 2010. As more details become evident, we will share more information about our progress with our valued investment community."
About Ultimate Sports, Inc.:
Ultimate Sports specializes in every item, large and small, that snowmobilers need in order to enjoy the sport and improve their performance -- especially snowmobile skis of all types. We have an extensive inventory of carbide studs, mount kits, wear bars, suspension parts, snow flaps, alignment bars, and so much more. According to the International Snowmobile Manufacturers Association, over $28 billion in economic activity occurred in North America related to snowmobiling in the 2008-2009 season. In addition, 1,652,642 snowmobiles were registered in the United States in 2009; up 1% over 2008. These facts prove that the snowmobile industry is a profitable one, and a great place for USI to excel. Visit www.usi-skis.com for more information.
Forward-Looking Statements:
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.