Momentum International: New Force from Bangladesh

MANCHESTER, UK (July 28) - Having sold Concept Cycling Limited (the UK's largest bicycle assembler) to it's management early in July, Steven Walsh has established a new company which has the exclusive rights to market the production of two Bangladesh bicycle factories: the long-established Meghna factory and the brand new Transworld factory. Steven Walsh has a 50% shareholding in the Transworld factory which began production in May 2003. Based in Manchester, England, Momentum is looking for customers for both factories for the 2004 season. Concept Cycling has been the main customer for Meghna over the past 4 years but they have shipped all kinds of bicycle to own label customers in Holland, Germany and Austria. Concept have 'pencilled in' around 200,000 bike orders for 2004 but the capacity will be more than double this quantity. Steven Walsh is keen to point out that both factories have no problems in obtaining GSP Form 'A' certification to enable goods to come into Europe 'Duty Free' i.e. 0% Duty. "We make and paint our own frames & forks, rims, spokes & nipples, pedals, grips, handlebars, seat posts, tires and even cartons. Very soon we will start production of decals and saddles. We also work with European components such as Selle Royal or Zefal. We will produce more components in-house to enable us to compete with China prices if the dumping duty is removed in 2005. However we only work with Shimano freewheels & Shimano front & rear derailleurs with Shimano or Microshift changers. We use quality components such as Lee Chi brakes & Disc brakes and Zoom suspension forks. We work with genuine YS paint using Japanese painting machinery. Our tire factory was established as a joint venture with Innova, who supplied all the machinery & technology. In fact the Meghna factory was originally a joint venture with Raleigh over 40 years ago." Momentum is partly owned by Mr. Rahman who owns the Transworld factory jointly with Steven Walsh. "We are in this venture together " says Mizanur Rahman, who is also the BMW car importer for Bangladesh and Chairman of the largest private Bank in Bangladesh. Momentum is looking to sell to importers of bicycles in Europe & Canada and other countries which have high duties from China. For more information: swalsh@momentum02.fsnet.co.uk (JO)