This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Cycle Country Announces The Closing Of The Sale Of Its ATV Accessories Product Line To Kolpin Outdoors Inc.; Announces Changes Of Corporate And Subsidiary Names: And Announces Closing Of Tenth Amendment To Its Secured Credit Line

Stock quotes in this article: ATC

Cycle Country Accessories Corp. (AMEX:ATC), announced that they have closed on the sale of its ATV Accessories Product Line to Kolpin Outdoors Inc. Further, the Company announced the change of its corporate and subsidiary names to reflect that Kolpin has acquired those trade names. In addition, the Company announced the closing of the Tenth Amendment to its Secured Credit Line.

The Company announced that, effective December 31, 2011, it has successfully closed on the sale of its ATV accessories product line to Kolpin Outdoors Inc. for $8,000,000, subject to certain adjustments. This sale was previously discussed in a press release and Form 8-K dated September 1, 2011 as well as in the Company’s filing of its DEFM14A Information Statement filed with the SEC on November 18, 2011. This sale was for the ATV Accessories Product Line only, which did not include any of the Company’s manufacturing operations, including real estate, machinery and equipment. It was an asset sale only, and did not transfer any of the Company’s liabilities. Further, it only affected the sales, engineering, product development, and customer service employees of Cycle Country, and did not include or affect any of the manufacturing or operational personnel of the business.

The parent Company, Cycle Country Accessories Corp. (a Nevada corporation), will operate under the new corporate name of ATC Venture Group Inc. (“ATC Venture Group”). It will continue to be publicly traded on the NYSE/American Stock Exchange under the symbol "ATC".

The subsidiary company, Cycle Country Accessories Corporation, (an Iowa corporation), will be renamed Simonsen Iron Works Inc. The Company will maintain its manufacturing operations in Spencer, Iowa, but will operate under the name of Simonson Iron Works, restoring the heritage of that Company's 106 year history of successful contract metal fabricating. Simonsen Iron Works was a well-known and highly-respected metal fabricator, and became the metal fabricating supplier to Cycle Country in 1981. Cycle Country Accessories Corp. purchased Simonsen Iron Works in 2005, though it was originally founded in 1906 as a blacksmith business. It was founded in Sioux Rapids, Iowa and moved to our present location in Spencer in 1994. We operate out of a beautiful, modern manufacturing facility with over 140,000 square feet. Simonsen Iron Works will continue to manufacture the ATV product line for Kolpin outdoors through this product year under a manufacturing supply agreement, and is currently in negotiations with Kolpin to work on the extension of this agreement into the next product year.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs