Mike Dennison steps down with immediate effect because of expected low third quarter results. Full year net sales were first estimated to be 1.42 billion to USD 1.47 billion (EUR 1.27 billion to EUR 1.31 billion).
Finnish bicycle manufacturer Helkama Velox Oy has acquired the bicycle brand rights and the Turku warehouse of bankrupt compatriot Tunturi Oy Ltd., the former Finnish subsidiary of Accell Group
Decathlon is further expanding its collaborations with this partnership. The first store-in-store will be opened next year in what will be the largest store of Decathlon in the Hamburg metropolitan region, where four other shops are already running.
Singapore-based industrial group Dutech has completed the acquisition of Accell's Dutch bicycle brands Batavus, Koga and Carqon from the trustees of the bankrupt group. The deal also includes Accell's Hungarian operations and bicycle factory, and brings some clarity for dealers who have been waiting weeks to place their 2027 orders.
The German Association ZIV has issued a statement calling for a level playing field for the global bicycle industry. The position paper addresses the challenges posed by Chinese market presence and state subsidies, which ZIV argues create severe competitive distortions for European manufacturers.
Panasonic Industry has increased the maximum torque output across its GXM mid-drive portfolio through a system software update.
