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Cilo deal in sight

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ROMANEL SUR LAUSANNE, Switzerland (3 september) – After months of deliberations Cilo Group President Claude Jan stated that the Cilo bicycle brand plus assets will be sold in the first half of September. After the complete staff (except a couple of managers) had been dismissed in May, Cilo has been in negotiation with Accell (Netherlands) […]

ROMANEL SUR LAUSANNE, Switzerland (3 september) – After months of deliberations Cilo Group President Claude Jan stated that the Cilo bicycle brand plus assets will be sold in the first half of September. After the complete staff (except a couple of managers) had been dismissed in May, Cilo has been in negotiation with Accell (Netherlands) and with an Italian group, but both could not come to an agreement due to the excessive demands of two staff members. Subsequently, MD Andrew Gordon has been replaced by interim manager Martinos Iliadis (ex-Migros and CBS/Shimano), who allegedly has reached an agreement with the Italians. (PH)

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