Jan-Willem van Schaik

TAICHUNG, Taiwan - Mid 2024 Giant Group's sales trend seemed to have found a way up again, but this turned out to be only a short-lived revival. In July, Giant still expected operations to improve gradually, but the financial report published yesterday of the Q1-3 results show that a full recovery takes longer than expected.

HEERENVEEN, the Netherlands - Accell Group can proceed with the restructuring of its financial position as it secured sufficient support from its key stakeholders. "The implementation of the recapitalization will create a sustainable financial and operational platform to execute our strategy," reported the company today. "Approximately 80% of our senior term and revolving facility lenders have committed their support for the recapitalisation, while other key creditors unanimously back the plan."

MAINZ, Germany - For reasons of efficiency, Pon has decided to relocate the European production of Santa Cruz & Cervélo to the existing facility of Pon Bike in Emstek, Germany. The production in Mainz will be discontinued from April 2025. This was reported by the platform MTB-news.de.

TAICHUNG, Taiwan - Folding bikes stood at the heart of Tern Bicycles when the company started in 2011. However, over the years, they have evolved into a supplier of transportation bicycles in any kind of form. "We even created the new category compact cargo bikes, which are in our vision more practical in future cities," says Tern team-lead Joshua Hon.

OSAKA, Japan - Market recovery hasn't come as rapidly as Shimano had still foreseen in its first half year results published in July. The Q3 results the company published today still reveal challenging market conditions which the Japanese component manufacturer partly attributes to unfavorable weather conditions in Europe during spring, as well as the inventory bubble.

PADOVA, Italy - To reduce the carbon footprint of bicycles, mudguard manufacturer Eurofender has developed a model which is made out of recycled plastic. Besides this, it is also made without aluminum, and the plastic can be fully recycled at the end of the life cycle of the mudguard.

WELS, Austria - As a result of the market circumstances for e-bikes, bicycles and motorbikes, Pierer Mobility will fall short of expectations in terms of revenue and earnings, as well as with regard to the reduction in working capital and net debt in the current financial year. Therefore, the company has revoked its guidance for the 2024 financial year.

PHNOM PENH, Cambodia - The slow recovery of the Cambodian bicycle export to the European Union prompted the country's five assemblers to look for new markets. The once leading importer of bicycles into the EU-27 is also facing fierce competition of other major bicycle exporting countries like China and Bangladesh.

APELDOORN, the Netherlands - To step up Merida's presence, the Benelux distributor of the Taiwanese manufacturer has expanded into Denmark as the official importer for this country. This strategic move strengthens Merida's foothold in the Scandinavian region, furthering the brand's commitment to delivering high-quality bikes and cycling gear to a wider audience.

LORIOL-SUR-DROME, France - Look Cycle Group has announced the sale of the high-end carbon bicycle wheel specialist Corima. The two companies formed together in 2016 when Look Cycle became the owner of Corima. In 2022 the two companies fully merged but have now split up again effective 30 September 2024.