QubicaAMF announces the company is no longer for sale

    07/31/13

    Industry News

    With new ownership under Bowlmor AMF, and the original Qubica shareholders, QubicaAMF is poised to continue to focus on product innovation and future growth

    20130731QubicaAMFLogo.jpgQubicaAMF Worldwide, SarL ("QubicaAMF") has announced that its potential purchase by Bowltech International B.V. ("Bowltech"), first announced in 2012, is no longer being pursued.

    QubicaAMF has two sets of shareholders, each holding 50% ownership in the company, the former shareholders of Qubica Worldwide and Bowlmor AMF.

    With the recent emergence of AMF Bowling Worldwide ("AMF") from Chapter 11 bankruptcy, resulting in the formation of Bowlmor AMF last month, that half of the ownership now has a different and renewed commitment to the future of QubicaAMF. Both sets of shareholders believe in the future opportunities at QubicaAMF and are eager to work together to continue to grow the company.

    Tom Shannon, Chairman, CEO and President of Bowlmor AMF said, "We are excited to hold an ownership position in QubicaAMF and to be part of the future of the company.

    "We believe in the innovative power of the company and its undisputed product leadership position as its newest product, BES X, demonstrates. There is clear potential for significant growth in the future." John Walker, the CEO of QubicaAMF said, "Under the circumstances a year ago, a transaction with Bowltech presented a great opportunity for QubicaAMF.

    "However, with the full support of our new ownership team a transaction is no longer needed in order to continue to deliver innovative, quality products that make our customers more successful. We are excited to have owners with a long term commitment to the bowling industry and to the future of our company."

    "We began partnering with Bowltech in June 2009. Last December we formed a Strategic Alliance with them in Europe so that Bowltech now serves as our exclusive distributor in Denmark, Sweden, the Benelux, Germany, Austria and parts of Switzerland and as the Master Distributor for QubicaAMF Aftermarket Products, throughout Europe. "Bowltech continues to be a critical strategic partner for QubicaAMF going forward and we are looking forward to many years of success working with Hans Krol and the Bowltech team," added Mr. Walker.

    Pat Ciniello, President of QubicaAMF Worldwide, LLC said, "This is a very exciting time for QubicaAMF. Both sets of shareholders deeply believe in the innovative power of QubicaAMF and in taking a leadership position to grow our entire industry."

    Emanuele Govoni, Executive Vice President and Chief Marketing Officer of QubicaAMF stated, "With the recent introductions of our newest Bowler Entertainment System, BES X, the EZ Touch lane machine, SPLII Lanes and the XLi EDGE pinspotter last year, we are uniquely positioned, and fully dedicated, to continue on this path of delivering the most innovative high quality products that make our customers more profitable."

    QubicaAMF has changed the bowling industry many times in the past, beginning with the first mass produced automatic pinspotter introduced by AMF (a predecessor company to QubicaAMF) in 1946.

    AMF also created the first automatic scoring system for the industry while Qubica revolutionized the automatic scoring and management control segments of the industry, growing from a small startup company to the international market share leader in only a few years.

    QubicaAMF will continue its on-going commitment to investing in new product development as a key to success for both the company and the industry.

     


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