PRAGUE, Czech Republic – The Chinese company Citic Tianjin and Czech Marmez CZ, which is trading in various glass products, are to establish a joint venture for assembling bicycles in the Czech Republic. The location of the new facility, production capacity and the markets the new bike maker is aiming at, are still kept secret by the partners.
Owner of the Marmez CZ is Xu Xue-qun, a Chinese who is already for years and years living in the Czech Republic. So far his company has primarily dealt in exporting Czech glass to Asia, among others also to China. The glass factory is in Novy Bor and sells its production and also the production of six other Czech glass producers to the Asian countries.
With the assembly of bicycles taking place in the Czech Republic, the new Chinese producer is avoiding the 48.5% anti-dumping duty which is applied to complete bikes imported from China into the European Union. The agreement on the founding of bicycle company is part of a bilateral US$ 18 million (14.1 mn euro) contract between the Czech Republic and China.