Fallbrook Technologies Seeks Growth in AsiaWednesday, November 30, 2011
Fallbrook Technologies Inc., a San Diego maker of continuous variable transmissions used in the bicycle and auto industries, said Nov. 28 that it has entered into a partnership with Perfect Sport International Ltd. to help the company with sales and business development in Asia.
Financial terms of the deal were not disclosed.
PSI, with offices in Taiwan and China, is headed by bicycle industry veteran Scott Hong.
Fallbrook, founded in 2000, withdrew plans to issue common stock earlier this year without providing any reason. The business developed a new type of shifting system called NuVinci that is offered by some 40 international bicycle brands, including Breezer, REI Novara, Jamis, Dahon, and Merida.
Fallbrook recently introduced an intelligent drivetrain, NuVinci Harmony, that won a 2011 iF Design / Eurobike Award.
— Mike Allen