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Feb. 20, 2013, 4:55 a.m.
2/20/2013
By Mike Garrison
LiveRC.com
Last week various media sources announced breaking news of Hobbico/Great Planes purchasing HPI Racing and its assets in order to "save" the company. While the rumor had been circulating for some time even before the news hit the web, once going public the rumor stirred all sorts of questions and speculations.
Today, HPI Racing has announced the news of Hobbico purchasing HPI is nothing more than a rumor. Instead, Hobbico has become the exclusive distributor of HPI Racing products in North America, however, has not purchased the company.
HPI Racing Statement:
"In light of recent media speculation, HPI would like to confirm that it has appointed Hobbico/Great Planes Model Distributors as their exclusive distributor for HPI RC Cars in North America. This distribution partnership is a further extension of the HPI's exclusive distribution network that is operating very successfully throughout the rest of the world.
We would like to be clear that Hobbico has not purchased HPI, HPI's assets or the rights to any HPI products. Hobbico/Great Planes Model Distributors have simply purchased the necessary product inventory to enable them to provide the service levels required from an exclusive distributor in such a large market area. Their comprehensive distribution facilities will ensure fast and effective supply of the entire HPI product line.
As the exclusive North American distributor, Hobbico will also be providing first-class customer services utilizing their extensive facilities and knowledgeable staff at their headquarters in Champaign, Illinois. The customer service facility will be operational for the HPI product range beginning March 1st, 2013.
HPI USA will retain its headquarters in California, where we will continue to develop market-leading products and maintain relationships with our high-profile corporate partners. HPI Europe will handle centralized purchasing and logistics operations, resulting in more efficient accessibility of global product demand. These combined efforts will enable North American shops and customers better and faster access to HPI's kits, spares and support.
This exciting partnership will enhance HPI's presence within North America by giving both companies the opportunity to concentrate their efforts on their own specialized areas of the business.
HPI's dedication to product development, marketing collaborations and our distribution partners will ensure HPI will remain the front runner in the worldwide RC market. "
We too had heard the rumor and assumed it to be true, but are pleasantly surprised to hear that HPI is still strong and doing well. While Hobbico may not own the company, as they do others, we expect this to be a successful partnership and look forward to seeing more from HPI USA and Hobbico in the near future.
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