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Simon River Sports and Van Dusen Racing Boats Announce Strategic Alliance November 21, 2003 Montreal, Quebec: Lou Lukanovich, CEO and founder of Simon River Sports (SRS) and Ted Van Dusen, President and owner of Composite Engineering, makers of Van Dusen sprint racing boats, are pleased to announce that they have formed a strategic alliance which includes license and distribution agreements. Composite Engineering, based in Boston, MA, has been a leading sprint racing kayak designer and manufacturer for over 2 decades and is known for providing the top elite racers with the highest quality composite kayaks worldwide. SRS, based in Montreal, Quebec, is a market leader in the design and making of racing kayaks, canoes and paddles for the North American novice and master market. Composite Engineering recently introduced its exciting new Van Dusen K-1 Mohawk Competition 67 and 85 at the 2003 Sprint World Championships. The Mohawk design is the result of intensive tow-tank testing, computer modeling and feedback from athletes. The new boats are remarkably comfortable and efficient to paddle while having significantly lower drag than other kayaks. The Mohawk's innovative rudder system is designed to lengthen effective waterline length and enhance speed, patent pending. The terms of the licensing agreement are exclusive and allow SRS to manufacture and deliver economy priced versions of the new Van Dusen K-1 for distribution in North America under the Mohawk brand. SRS will also act as sales agents in Canada for the high end Van Dusen-made boats. "This is a very exciting development for the competitive sport, as SRS will be able to bring top quality sprint boat designs into the racing market at comparatively lower prices, improving accessibility to individual boat purchases and our Olympic sport." explains Lou Lukanovich. Commenting on the alliance, Ted Van Dusen reflects, "SRS is a quality partner who is in touch with the racing community, and will help us bring our designs to a broader market." Both Van Dusen and Lukanovich believe that the experience of both manufacturers combined will result in benefits for their sprint racing community by launching a line of competitive sprint boats at a larger range of price points. Hull and rudder designs are protected by international copyright law under the Vessel Hull Protection Act.
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