Champion Trikes Acquires Lehman Trikes
Champion Trikes and sister company Champion Investments Inc. has assumed operations of Lehman Trikes, saving the company from closing.
Trike conversion kit producer Lehman Trikes suspended its operations March 21 after failing the find investors. The South Dakota-based company began running into trouble in 2010 when Harley-Davidson cancelled its contract with Lehman Trikes which had been supplying components and conversion services. Lehman Trikes had been working with Harley-Davidson since 2008 and was hit hard when the Motor Company decided to move its three-wheeled motorcycle production in-house.
Another blow came with the passing of founder John Lehman in January.
“Lehman Trikes USA was a fundamentally sound company, with a rich heritage. A combination of factors led to their cessation of operations,” says Craig L. Arrojo, chief executive officer of Champion Trikes and Champion Investments. “The early discontinuation of the Harley-Davidson services contract, along with a challenging economic environment and delays in new contracts were all ingredients. Lehman and Champion Trikes, in team, will enrich both companies and improve our mutual performance.”
With new funding and resources secured, Lehman Trikes will begin returning to full operations in stages, beginning with providing service parts.
[Source: Lehman Trikes]