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Dutch Euretco Rejects BikeForce Cooperation

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BREDA, The Netherlands (November 5) – Euretco Two-Wheelers rejected a joint venture with UK’s Bikeforce to launch a bicycle retail service organization in the UK. Euretco TW’s Managing Director Ron te Riele commented on the collapse of the negotiations about a joint-venture with Bikeforce, that he was not quite convinced of the added value, the […]

BREDA, The Netherlands (November 5) – Euretco Two-Wheelers rejected a joint venture with UK’s Bikeforce to launch a bicycle retail service organization in the UK. Euretco TW’s Managing Director Ron te Riele commented on the collapse of the negotiations about a joint-venture with Bikeforce, that he was not quite convinced of the added value, the quality level and general management of Bikeforce, led by Ivan Dunn and Bikeforce parent company Superstate. “Instead, we will start in the UK with a 100% subsidiary of Euretco Tweewielers BV, called ‘The Profile Bike Specialist UK Ltd. (PBS)’ “. Euretco is to invest GBP 1 million (€ 1.5 million) in its British subsidiary. Former Bikeforce sales manager Stephen Thomas will become Sales Director (as well as private shareholder) at PBS UK Ltd. Euretco is currently talking with a managing director for its brand new UK subsidiary to be launched by January 1, 2003. Te Riele aims to have 270 connected IBDs in the UK with a GBP 56 million (€ 87 million) turnover in 5 years from now. (FN)

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