Sunday, July 27, 2003

Intamin In Negotiations To Purchase Kia Motors

Swiss thrill ride manufacturer, Intamin AG, has recently been negotiating with Hyundai Motors to purchase Korean automobile manufacturer, Kia Motors, a subsidiary of Hyundai. Intamin hopes to acquire Kia in order to diversify their product portfolio, which currently includes roller coasters, water rides, spinning flat rides and an electronics department dedicated to supplying, configuring and servicing the control systems that operate those rides. Intamin also hopes that sharing technologies between the two companies will help both companies to grow exponentially into bigger, even more successful, corporations.

Here is what Sandor Kernacs, president of Intamin, had to say to ARN&R about Intamin's proposed acquisition during a recent exclusive interview:

"We don't want all of Intamin's chickens to be in one cradle. In this day and age, heterogeneity is the key to success and prosperity. We here at Intamin truly believe that diversifying our product offerings and adding commodities with proven records of high quality and extreme reliability to our portfolio will only enhance our presence in the world marketplace. It's clearly a win-win situation for Intamin and for Kia."

Kernacs went on to discuss some striking similarities between the two successful companies. He keenly noted how any major new Intamin roller coaster installation is just as reliable as any brand new Kia automobile. He also noted that the technology and parts used to manufacture an automatic transmission for a Kia Spectra are exactly the same parts that were used to construct the hydraulic launch mechanism for Intamin's Top Thrill Dragster roller coaster at Cedar Point. Kernacs further noted that all of both companies' products come with a ten year/100,000 mile bumper-to-bumper warranty and three year/36,000 mile unlimited roadside assistance. Finally, Kernacs very astutely pointed out that the only two vowels in Kia are 'i' and 'a', and the only two vowels in Intamin are 'i' and 'a'.

Intamin expects to make a formal offer for Kia Motors within the next several weeks. In the meantime, in order to avoid having "all of Intamin's chickens in one cradle," the company is exploring other tantalizing takeover opportunities including plans to purchase telecommunications giant, MCI/Worldcom and Major League Baseball team, The Detroit Tigers, both proven winners according to Kernacs.


No comments:

Post a Comment