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Neobike Attracts YTS as New Principal Shareholder

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TAIPEI, Taiwan (January 7) - Neobike International major shareholder Eurotai attracted co-Taiwanese high-tech metal frame supplier YTS Technology Company, known for its computer components, as its principal shareholder with additional capital investment. YTS already produces frames for Neobike's folding bike program. All Neobike factories will remain operational as it is with some 150 employees aboard, while the bike program will be further broadened. In the meantime Eurotai (Euro-Taiwanese Commercial Company), which also trades scooters, electric wheelchairs and car rims among others, is to centralize the use of the group's resources, such as R&D and production plants, while reinforcing Neobike's competitiveness. Neobike Europe will remain aboard as a major partner to its Taiwan counterpart. As Neobike Europe owner Vincent van Ellen puts it: "We are a trading company, operating independently and selling around 3,000 bikes per year as private labels in Europe." He further said the move has nothing to do with the court cases between Neobike and Dahon. (FN)

by Bike Europe last update:21 Mar 2006

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