Cycleurope's Withdrawal of Dumping Support Likely

STOCKHOLM, Sweden- The rumor that Cycleurope SA, the holding company of, among others, Peugeot, Gitane and Bianchi, is planning to withdraw its support of the European Bicycle Manufacturers' Association's dumping complaint continues to gain momentum. However, Cycleurope CEO Alain Goetzmann limited his comment to the following: "From the start of this dumping case Cycleurope SA has never made a public statement and it will keep to that position now." Goetzmann refused any further comments as to whether Cycleurope had officially informed the European Commission that it was withdrawing its support. On the other hand, he did say that an EBMA meeting will take place in January 2000 and that Cycleurope is awaiting the outcome of that meeting. EBMA president Brian Montgomery says he knows nothing of Cycleurope's decision to withdraw its support. Like Goetzmann, he refused further comment. Even if Cycleurope withdraws its support it will unlikely be enough to stop the proceedings. Two weeks ago the European Commission announced that it will continue the investigation in order to determine exactly whether or not Community support still meets the legal requirements needed to impose anti-dumping measures. Many think that if Cycleurope does indeed withdraw its support, then the next logical step will be that the EBMA will withdraw the complaint completely during the January meeting. (JW)