Adidas -Vulcabras joint venture

The new company will sell shoes, shirts and other sports apparel from Reebok in South America.

The joint venture starts business April
1, pending regulatory approval, and will be headed by Pedro Grendene
Bartelle, who is Vulcabras' chief executive and chairman.

The board of directors will be made up
of executives from Canton, Mass.-based Reebok, a unit of Adidas, and
Sao Paulo, Brazil-based Vulcabras, a maker of footwear including the
PVC brand, and also distributes Reebok and Keds shoes in Brazil,
Argentina and Paraguay.