Shimano Expects Sales Increase in Bike Sector

OSAKA, Japan (May 23) - Despite the present difficult market situations in Europe and the US, the world's biggest bicycle component maker expects growing sales in the bike sector for the whole year of 2002. However, sales is expected to increase only slightly with 1.4%. Shimano projects JPY 86.9 billion (€ 754mn) in sales of bicycle components (up from JPY 85.7 billion in 2001).
In a recent statement about its financial situation, Shimano says that it is budgeting a 8% sales increase in fishing tackle while in other sectors sales are expected to up 16%. Total sales are expected to reach JPY 130 billion (€ 1,129mn).
Shimano's pre-tax profit should rise by 5.5% to 13.4 billion yen (€116mn) while total net profit is expected to grow 68% to JPY 9.5 billion (€82.5mn). Overall, Europe represented 33% of total sales, as against 25% for Japan, 21% for the US and the rest for parts of Asia. (JO)


Cesare Rizzato (Atala) Taken Over

PADOVA, Italy (May 21) - One of the renowned names in the Italian bicycle industry, Cesare Rizzato has been taken over by TIM International SA. Due to last year's strong decline in bike sales in Europe, the maker of Atala and Kästle branded bikes ran into trouble. Cesare Rizatto & C. SpA in Padova, Italy was set up in 1921 and recorded a turnover of € 65 million in 2001.
New owner TIM International SA is a financial group which offers ailing companies turnaround managers. The aim of the new owners is to further develop the Atala brand. New Board members at Rizzato & C. SpA are Albino Collini, Grabiele Brighenti and Domenico Costa. Carlo Peroni and Alberto Forchelli joined the board of Atala SpA. (FN)

Principia Got Importing Owners

KOPENHAGEN, Denmark (May 21) - High-end frame maker Principia A/S partly changed its owners from May 15. Founding owners Gert and Niels Spender-Andersen left the company and have been replaced by Principia distributors RBS Equipment of England and ACS Vertrieb from Germany with a 33.3% stake each. Its third 33.3% owner and former sales and marketing manager Seamus Grannell has been appointed as its Managing Director. This bike season Principia saw its frame production numbers rise to 10,000 units worldwide, up from 7,500 units by 2001 with 30 employees. "To accommodate further growth, Principia will be able to attract more capital from banks", says Principia's Dutch distributor Astir Equipment's Jan Eikelenboom. Prices of Principia's frames range from € 950 to € 2,000. Germany is its biggest market, closely followed by the UK, Benelux and Switzerland. First sales occurred in Spain, Italy, Australia and the USA. Some 12 years ago, three students from the Aalborg University started to manufacture a triathlon bicycle. "This ran somewhat out of their hands", understated Eikelenboom. (FN)