Monday, February 26, 2001
AGUEDA, Portugal (26 February) - Bicycle manufacturer Confersil in Portugal has stopped it activities. Already beginning of January there were reports that Confersil was bankrupt but until recently these reports were not confirmed by other sources. Confersil was faced with a 40% decline in demand since 1995 for bicycles destined for exports. The Portuguese maker tried to make up for the loss in exports with sales to hypermarkets. There Confersil was faced with extreme pressure on prices. Confersil manufactured between 85,000 and 90,000 bicycles a year in Agueda. (JO)
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