Upbeat Mood Expected at Taipei Cycle as Taiwan Makers Report Solid 2010 Start

Taiwan’s top 3 bike makers; Giant, Merida and Ideal, are all reporting a firm start in 2010. Their results are expected to be reflected in the general mood at next week’s Taipei Int’l Cycle Show that opens the doors of its Nangang venue next Wednesday, March 17.

Giant Global Group which is the world’s biggest bike maker said its January 2010 results were up 11.5% in January compared to the same period in 2009; from US$ 42.7 million to US$ 47.6 million for the same month in 2010.

Merida outperformed Giant. The no.2 bike maker of the island claimed its result increased by over one quarter; by 26.2% during January 2010! Merida’s sales totalled US$ 30.7 million compared to US$ 24.3 million in 2009.

Ideal Corp. sales’ remained at about the same level during the first month of this year and stood at US$ 9.3 million.

Taiwan’s Top Three financial results mark a remarkable recovery when compared to their 2009 performances. Giant’s CEO Tony Lo reported on the company’s 2009 results: “5% dip in revenues and profits as recession wears off in core markets resulting in a revenue of NT$39.412 billion (€770 million) and a net profit of NT$ 2.334 billion (€ 50 million).”

Anticipating on an economic recovery prospects and a global health craze the world largest bike maker is aiming at a growth in revenue of 5 – 10% in 2010. “2009 has been a difficult year due to the economic situation”, said Tony Lo. “However the world is rediscovering bikes as a good source for leisure as well as commuting, so we see that as increasingly positive.”