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Sapim Takes Over Edco’s Cycle Division

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WILRIJK, Belgium / COUVET, Switzerland (March 17) – Belgium spoke and nipple expert Sapim NV has taken over the cycle division of Swiss competitor Edco Engineering SA. As of Monday March 12 the Couvet-based company has been running its business under the Edco Sapim SA name. Edco’s high-end bicycle and wheel chair component products will […]

WILRIJK, Belgium / COUVET, Switzerland (March 17) – Belgium spoke and nipple expert Sapim NV has taken over the cycle division of Swiss competitor Edco Engineering SA. As of Monday March 12 the Couvet-based company has been running its business under the Edco Sapim SA name. Edco’s high-end bicycle and wheel chair component products will remain as Swiss products under the “Edco by Sapim” logo. Besides bicycle hubs the Swiss company also offers bicycle bottom brackets, headsets, spokes and nipples. Due to these product groups Paul Parein, owner of Sapim, sees a lot of opportunity between the Edco and Sapim businesses.
While Edco’s cycle division was taken over by Sapim two weeks ago, the assets of Edco’s blind and shutter component business (earlier erroneously reported as going bankrupt) was sold to German competitor Geiger. Edco’s subcontracting division for civil and military products – declared bankruptcy, stated former Edco president Paul-André Wirth. Edco Engineering SA made its name in three business fields that each reached about a one third share on the entire business. Edco developed, machined, assembled and sold high precision products in the field of cycles, shutters and blinds, and does subcontracting for civil and military products. Since 1995, a 87.5% stake of the shareholding cooperation was in the hands of its presidents Paul-André Wirth and Franklin F. Niedrig. The remaining 12.5% was in the hands of active and retired employees. Altogether Edco employed about 100 people. In contrast to this the Sapim facility in Wilrijk Belgium employs about 50 people. Further details about the takeover – including the future of Wirth and Niedrig at Edco will be published soon. (JB).

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