Exciting News- PST & Gspeed Team Up!

[GSpeed]

Originally Posted by Press Release

CRESSON, TEXAS - Gspeed, LLC (Gspeed) is excited to announce its acquisition of Performance SpeedTech, LLC (PST), effective August 26, 2015. "Combining the strengths of two of Texas's top sports car racing preparation, fabrication and tuning shops creates a powerhouse that rivals any in the country", said Gspeed's Louis Gigliotti. Louis left Purdue in 2006 to follow his racing dream. For the last 14 years, he has managed professional racing teams taking race cars from specifications and ideas to racetrack-ready for series including SCCA World Challenge, American Le Mans GT2 and Rolex GT. Gigliotti will lead the operations at the combined enterprise. Combining this talent with the retail and fabrication facilities of PST will create a synergy that will ensure top-level race and track car preparation will be available from PST during its second decade and beyond.

Gspeed will continue to use the PST name given its more than 10 year history, large customer base and reputation for high quality professional work and top-level retail product offerings. Relocating Gspeed's operations to the MotorSport Ranch in Cresson, Texas will allow the combined operation to offer customers the same convenient access to their services as PST has in the past.

In order to ensure a smooth transition, PST's former owners, Susan and Dave Fiorelli, have agreed to consulting agreements and will provide whatever assistance is needed to ensure the continued success of PST. The Fiorellis said "This is a really bittersweet time for us, having founded PST over 10 years ago. However, with Dave retiring from his energy industry job, our travel schedule has not let us devote sufficient time to PST. Louis will be able to do that and we are convinced that his management focus and the combined skills of Gspeed and PST will offer customers an improved experience and more services than before."

In addition to Gigliotti, Gspeed is owned by Mike Weathers and Jerry Smith. Many of you will recognize Weathers as a long-time PST customer and Corvette racer. The new capital, energy and expertise the Gspeed owners bring will be a big boost for PST and benefit both customers and vendors.

What does this mean for our FT86 development program? Great things. With our future secured, we'll be able to develop more innovative solutions for the FT86 platform, not to mention the additional horsepower (metaphorically and literally) we'll be bringing to the table.

[CSG Mike]

Looking forward to developments!