Concept Cycling Signs Deal with Meghna Bangladesh

OLDHAM, UK- After a year of discussions Concept Cycling of the UK has entered into a joint venture with Meghna of Bangladesh for the exclusive rights to import bicycles made in the Meghna factory in Dhaka into Europe. Concept has invested in this factory and has its own engineers based in Bangladesh. According to the managing director of Concept, Steven Walsh, Meghna is "...well established and has ensured that their bicycles can be manufactured with GSP [General System of Preference-ed.] form to give them a zero duty tariff." He adds that though many other competitors tried to produce at the Bangladesh factory, which can boast of state-of-the-art Japanese equipment, Concept was Meghna's first choice. The first bicycles for the UK market will be produced in February 2000. Meghna produces bicycles, rims, spokes, nipples, frames, forks and hubs, as well as pedals and tires via a joint venture. Concept is now the exclusive European importer for the tires as well. In addition to bicycles, Meghna also has interests in car distribution and banking, among others. (JW)