October 02, 2012 (Boulder, CO) – German ski wax manufacturer Holmenkol AG has announced the completed sale of the company to Sporto-med GmbH, a family-owned German business specializing in physiotherapy, sports medicine and health. A new company, Holmenkol GmbH, has been formed as a subsidiary of Sporto-med and will continue the operations of Holmenkol AG. Business at Holmenkol continues as normal and the season’s first shipment of wax and tools has already arrived at Holmenkol’s US distributor. The sale was completed in early September and marked the company’s exit from insolvency proceedings.

Skiers in the United States will notice no difference in the lineup or quality of Holmenkol waxes and tools for the 2012-2013 season and should expect to see improvements and new products in years to come. “In the future too, Holmenkol will retain focus on the World Racing Team in Nordic Skiing and Alpine Skiing,” says Dr. Oliver Temme, chemist and director of Sporto-med GmbH’s research and development department since 2004. “Continuing development of waxes for racing skis has a high priority for us.”

Holmenkol’s production facility in Heimerdingen, Germany and team of employees remain unchanged during the transition and will continue to produce highly-innovative chemical surface systems for skis and snowboards as well as textiles.