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Vredestein Bike Tires Lower Profit in 1999

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DOETINCHEM, Netherlands (14 March 2000)--Dutch tire manufacturer Vredestein posted a EUR10.4 million net profit in 1999, an increase of 4% over 1998. Vredestein Bikes Tires, however, was the only division within the group not to increase profit. Sales figures were not available. Earlier this year Vredestein Bike Tires announced that it would be moving its production to Malaysia. The company currently has a joint venture there, which it will be expanded into a wholly-owned production site in the coming years. "We will continue to produce our own tires," says marketing and sales director Adrie Gouweleeuw. "This is unique in the tire industry. We will transport the machines we currently use in the Netherlands to Malaysia. This will ensure that the quality of our tires will remain the same." Vredestein will begin the moving process during the second half of 2000. (JW)

by Bike Europe last update:21 Mar 2006

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