Business news : Surftech and Takayama family to part ways

After a long and mutually beneficial business relationship, Surf Technicians LLC (“Surftech”) and the Takayama Family Trust (“Takayama”) have decided to provide for an orderly and amicable transition out of their relationship.

Surftech and Takayama have agreed that between now and September 24, 2014, Surftech will continue to sell Takayama designed and trademarked boards variously branded: HAWAIIAN PRO DESIGNS, HPD, Shapes and Designs by Donald Takayama & bird design, through all of Surftech?s channels of distribution, on a non-exclusive basis, but thereafter SURFTECH will discontinue those brands.

During the transition period, Takayama and its licensees and distributors, including Horizon Enterprises and Wow Action Sports, also will sell Takayama designed and trademarked boards on a non-exclusive basis. After September 24, 2014, Takayama and its licensees and distributors will be the exclusive providers of all surfboards and standup surfboards using the Takayama trademarks and Donald Takayama's unique shapes for the boards.

During the transition period, both Surftech and Takayama will have the right to sell and offer the Takayama boards. There are no disputes or claims pending between Surftech and Takayama. Such an amicable transition was one of the late Donald Takayama's last wishes before his untimely death.

By press release