MEMPHIS, Tenn. (BRAIN) — True Temper has decided to phase out its bicycle frame tubing program over the next year. The Memphis-based company will accept orders for its steel tubing through the end of this year; all production and shipments will end March 31, 2017.
"Based on a thorough review of all aspects within this business unit, it has become evident that bicycle products no longer fit into our core strategy," True Temper's Jeremy Erspamer told bike industry customers in a letter sent earlier this month. Erspamer is the senior vice president of True Temper's performance products division.
Erspamer told BRAIN in an email that the company decided to pull out of the bike market to focus resources on its golf, hockey and lacrosse business. "The financial reference represents, in short, the fact that the steel bicycle tubing market is so small compared to our core markets that our equipment does not efficiently produce small batch runs," Erspamer said. "The thought of investing in capital to try and service a market as small as this does not make financial sense."
In his letter to customers, Erspamer said it will be business as usual with True Temper for the next nine months, except that no new development projects are being accepted.
"We greatly appreciate the years of support you have given the True Temper brand of products and sincerely apologize for any challenges or concerns which may result from this change in strategic direction," Erspamer said in the letter.
