VILNIUS, Lithuania - The announcement by Pon Holding to construct a new e-bike and bicycle factory in Lithuania started a string of reactions in this small Eastern European country. With this new dynamic, the country has put itself on the map as the next bicycle production hub in Europe.
OSAKA, Japan - The global presence makes it possible for Shimano to compensate for fluctuations in various market. Thanks to big differences between European, North American and Asian markets Shimano can still report a net sales increase of for the first nine months of 2022.
GEDERSDORF, Austria - The KSR Group launched its Malaguti e-bikes three years ago. On the back of a successful launch the brand is now expanding its product range and streamlining its distribution network across European territories.
AALBORG, Denmark - PentaLock has raised €1.6 million in pre-seed funding from current investors and a lineup of Danish business angels. This investment will allow the start-up to make the next step in developing the company and meeting the target market's needs.
LONDON, UK - To facilitate its European expansion, insurance company Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and by Ponooc, who has close ties to Pon, and ABN AMRO, to €12.7 million.
BREMBATE, Italy - To fund its investments in capacity and innovation in both Thailand and Italy, Vittoria owners WISE Equite and Vittoria's management entered an innovative financing operation. They issued a 5-million-euro bond with a duration of 6 years which is initially fully subscribed by UniCredit.
CAVARZERE, Italy - In a devastating fire the Italian bicycle facility of Bottecchia Cicli di Cavarzere was damaged badly last Sunday. According to the latest report, the fire brigade managed to bring the fire under control, however it destroyed the central warehouse of the bicycle factory of approximately 6,000 square meters.
MILAN, Italy - Pirelli has started producing its cycling tyres in the Bollate factory based nearby Milan. The facility has undergone a period of modernisation and an overhaul process to accommodate the production of Pirelli Cycling's top-of-the-range lines.
OSAKA, Japan - In its financial statement on the first nine months of 2021, the Shimano Group again reports a brisk sales increase of its bicycle component segment of 56%. From the same period in the previous year, bicycle component turnover jumped to JPY395,187 million (€3 billion), and operating income was up 103.4% to JPY113,719 million (€864 million).
TAIPEI, Taiwan - Oxo-Pro was born out of the idea of combining European design and product development with Asian effectiveness and networking. "We want to produce our grips where our customers assemble the final product," explains Ronny Höglund, founder of Oxo-Pro.
ZEIST, the Netherlands - It's been a busy year for the international bicycle industry. High demand for bicycles, notably e-bikes, driven by the COVID pandemic and the push for greener cities has brought high level investments to the sector. But, high shipping costs and long lead times as a result has brought high blood pressure for those trying to secure parts. Still innovation, investments and take-overs are bringing change to the market, as this Bike Europe 'most read' year in review shows.
MORGAN HILL, USA - Forty-eight years after starting Specialized, founder Mike Sinyard (72) has announced the appointment of Scott Maguire as CEO. As Founder, Chairman, and Chief Rider Advocate, Sinyard will remain fully engaged as the brand's visionary leader. Scott Maguire will own the responsibility of running the business and will report to Mike Sinyard.
DIEREN, the Netherlands - As of this month Pon Holding will make Gazelle e-bikes also available in Italy. The Dutch bicycle manufacturer owned by Pon Holdings says the move ties in with its international growth ambitions. Gazelle has also announced a new managing director as of March 1st, 2022.
KOBLENZ, Germany - Direct to consumer retailer Canyon, has appointed a new CEO. Effective March 1st, former Nike executive Nicolas De Ros Wallace will be tasked with leading the company through the next stage of its growth journey.
CAMPIA, Portugal - To serve the need for carbon fiber products in Europe a group of investors have founded 'Carbon Team' in Portugal. After the success of Triangle's aluminum frame production founded by Rodi, Miranda and Ciclo Fapril, these 3 Portuguese companies joined forces with Bike Ahead composites (Germany) and Art Collection (Taiwan) to bring mass production of carbon fiber frames to Europe.
DOETINCHEM, the Netherlands - After almost 10 years, Stefan Anton left the Italian tyre brand, the Vittoria Group, at the end of June. In the past years, Anton has held multiple roles within the company, leading regional offices and as product director, where he was extensively involved in the development of graphene in carbon matrix for bicycle tyres.
AMSTERDAM, the Netherlands - Bolster Investment Partners acquired a 50% stake in Optima Cycles. Simultaneously, with Bolster's investment in Optima Cycles, sister company MM Bicycles, located in Taiwan, will be acquired and integrated into the group under the name Optima Cycles Asia.
MONTREAL, Canada - Dorel Industries has terminated the going-private transaction which was announced last November. To convince the current owners, an initial offer of Cerberus Capital Management LP representing the buyers was raised two weeks ago. But it did not convince the two main shareholders of Dorel Industries. They called the buyout "bad for investors".
LA FLECHE, France - Despite the Covid-19 pandemic, French e-bike manufacturer Néomouv concluded 2020 with a turnover of €10 million and a production of 10,000 e-bikes, but this could have been much more. Philippe Vaxelaire, the CEO of the company, explains that he chose to reduce components purchases and production fearing a drop in the sales. A boost in production is planned for 2021.
VARESE, Italy - The traditional Italian motorcycle manufacturer MV Agusta Motor S.p.A. is entering the highly dynamic market for electric bicycles. As part of the planned brand extension the first e-bikes are now rolling into the market. E-scooters should follow very soon.
