COLOGNE, Germany - The revived US based Huffy Corporation is in cooperation with the Bangladesh based Meghna Group, re-launching Huffy branded bikes in the EU markets. In the early eighties, the BMX heydays Huffy was selling bikes in big numbers in Europe. For the new start Huffy has signed a licensing agreement with the Bangladesh based Meghna Group to manufacture and distribute the Huffy products in the EU.
“Huffy will directly market its brand in the UK, Germany and France. As per the agreement Meghna will have the exclusive rights to sell and distribute Huffy branded wheeled goods in the markets of Ireland, Spain, Portugal, Belgium, Finland and the Netherlands”, said Bill Smith, Huffy’s Senior Vice President and Chief Merchandising Officer.
In Bangladesh Meghna is further ramping up its production capacity to meet the cooperation with Huffy. Currently the company is able to manufacture 400,000 bikes yearly. “With the new venture the production capacity would be further raised to half a million bikes annually,” said Mizanur Rahman, Chairman of Meghna Group. With the production in Bangladesh Huffy and the Meghna Group are making use of the new EU General System of Preferences (GSP) that became effective on 1 January 2006. In the new Regulation Bangladesh is regarded as a least developed countries (LDC) from which the bicycle import in the EU is duty free.
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