IL firm buys bicycle shock absorber manufacturer

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Colorado Springs-based RockShox Inc., has a new owner. Chicago-based SRAM Corporation purchased RockShox, which employs about 300 people locally making shock absorbers for high-end mountain bicycles. The deal should be complete in about 45 days. RockShox reported losses of $2.6 million in the last quarter of 2000, and, as a result of the sale, RockShox will no longer be a publicly-traded company. Bryan Kelln, chief executive officer of RockShox, said production will probably remain in Colorado Springs through the end of the year. SRAM manufactures components such as chains, handlebars, gear shifts and brakes, and revolutionized the mountain bicycle industry with the invention of the grip shift, which allows riders to shift gears by twisting the handlebar grip.