News Article

B-Tech Resuming Production

Home

KILKIS, Greece (May 28) – Greece based B-Tech SA is resuming normal production activities. The OEM bicycle manufacturer was forced to shut down production due to financial problems. According to President and CEO Jimmy Trikeriotis these problems were caused by ‘a hostile takeover attemp to acquire or eliminate B-Tech’s advanced manufacturing and technology facility, and […]

KILKIS, Greece (May 28) – Greece based B-Tech SA is resuming normal production activities. The OEM bicycle manufacturer was forced to shut down production due to financial problems. According to President and CEO Jimmy Trikeriotis these problems were caused by ‘a hostile takeover attemp to acquire or eliminate B-Tech’s advanced manufacturing and technology facility, and unique research projects’. Despite a filled order book, B-Tech was unable to get sufficient components which in turn was caused by banks that were getting very worried due to all the rumors that were spread concerning B-Tech.
Jimmy Trikeriotis told Bike Europe: “Finally, now that we have been able to demonstrate to the banks what our true and correct situation is, we once again have their support, and are in a position to resume our normal production activities. I am also pleased to announce that an Investment Firm has agreed to invest in B-Tech, and to participate in co-developing and expanding the Greek market. Over the course of a two year trial period, the objective is to strategically provide 120,000 bicycles per year to the various sectors of the Greek market. Additionally, they have granted us over € 10 million in revolving import/export lines of credit, in order to better support supplier and customer orders. This partnership will greatly enhance B-Tech’s position within the domestic business community, and also allow B-Tech to focus additional resources on efficiently delivering to its valued OEM customers within the European Union.” (JO)

Comment on this article