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Mifa’s Explosive Expansion

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SANGERGAUSEN, Germany (Aug 9) – German bike producer Mitteldeutsche Fahrrad AG – Mifa for short – is expanding rapidly since the company is listed on the Stock Exchange. In 2004 Mifa produced about 737,000 bicycles. According to the company its market share in Germany rose from 7 to 25 %. The company is also expanding […]

SANGERGAUSEN, Germany (Aug 9) – German bike producer Mitteldeutsche Fahrrad AG – Mifa for short – is expanding rapidly since the company is listed on the Stock Exchange. In 2004 Mifa produced about 737,000 bicycles. According to the company its market share in Germany rose from 7 to 25 %.

The company is also expanding its international business. Mifa got two orders for 2006 from nearby Denmark. Also about 20,000 bicycles will be sold to two German mass merchants that operate in Denmark. No names are mentioned, but the companies are not as yet involved in the bike business.
“We are proud to get a foothold on the international market,” says Mifa chairman Peter Wicht, “both orders from Scandinavia underline that our customers are satisfied with our cost effectiveness as well as with our overall repairing service. Despite the fact that the order is small, it shows that our growth strategy works.”
Next to Scandinavia Mifa is especially eyeing the French and Benelux markets. Currently there are negotiations taking place with several chain store suppliers and mass merchants.

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