K2 Inc. (NYSE: KTO) was founded in 1961 by brothers Bill and Don Kirschner on Vashon Island, near Seattle, Washington. K2 is known for pioneering fiberglass ski technology, which made skis significantly lighter and more lively than their wood and metal contemporaries. Famous users of K2 skis included pro champion Spider Sabich, World Cup and Olympic champion Phil Mahre, and his twin brother Steve Mahre, World Champion and Olympic silver medalist....
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K2 Inc. (NYSE: KTO) was founded in 1961 by brothers Bill and Don Kirschner on Vashon Island, near Seattle, Washington. K2 is known for pioneering fiberglass ski technology, which made skis significantly lighter and more lively than their wood and metal contemporaries. Famous users of K2 skis included pro champion Spider Sabich, World Cup and Olympic champion Phil Mahre, and his twin brother Steve Mahre, World Champion and Olympic silver medalist.
In late 1969, the company's rapid growth required new capital and Bill Kirschner decided a well-financed partner was necessary. The company was acquired by the Cummins Engine Company of Columbus, Indiana. Then in November 1976, the company was acquired by a private group of Northwest investors. The group, called Sitca, purchased K2 and its subsidiary, Jansport.
In 1982, company management purchased all outstanding shares of Sitca Corporation from the group of Northwest investors. Management decided to concentrate all resources on the alpine...
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