Heavy investments in new pedelec supplier

NURNBERG, Germany – “According to our comprehensive study of tomorrow markets, Pedelecs have a bright future in Europe and therefore justify our high investments.” This was recently stated by Frank Schoeck, CEO of Prout AG. This stock listed company invested heavily in the in October 2006 newly founded company Hudson Bike GmbH in Nurnberg, Germany.

This month Hudson Bike will start delivering thePowered Assisted Bicycles (PABs) like the former Sachs Saxonette, as well as pedelecs, said Alexander Brincker managing director of the new company. Hudson Bike GmbH was founded last October by the investment companies Prout AG (70% of the shares) and the Blue Cap AG (30%). Both companies are listed on the stock market in Frankfurt.

In addition to its own organization, Hudson invested heavily in several key companies e.g. E-Bike GmbH in Germany and Brittijn BV in Holland. While E-Bike GmbH is the former X-act GmbH, who used to manufacture the PABs for Sachs FMT, Brittijn BV was the Sachs FMT distributor in Holland till March 2007. “Brittijn is a very important company since it has a well organized marketing, sales and service organization for PABs and PTWs with an excellent dealer network in the Benelux”, said Schoeck. “Besides, Brittijn owns key patents of the Saxonette PAB and exclusive brand rights for the Netherlands. We will also invest in other companies in Europe who are specialized in the same business sectors”, continues Schoeck.

The product line of Hudson includes different electric assisted pedelecs under the model names P1 and P2 and also one e-bike under the model name E1. Deliveries of the motor assisted S1 to dealers in Holland and Germany including spare parts will start next June. “Although the old warranty cases are not our responsibility, we will serve our dealers and clients in the best possible way. A high efficient service is one of the key elements of our strategy”, said Alexander Brincker. Also motor scooters are to be delivered in 2007.