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B-Tech Fighting Hostile Takeover

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KILKIS, Greece (March 11) – Greece based B-Tech SA is fighting a hostile takeover attempt. B-Tech SA is a privately held company owned (through a majority shareholding) by Jimmy Trikeriotis. The OEM bicycle manufacturer is a newcomer in the European bike sector and has a current production capacity of 500,000 units. With the recently completed […]

KILKIS, Greece (March 11) – Greece based B-Tech SA is fighting a hostile takeover attempt. B-Tech SA is a privately held company owned (through a majority shareholding) by Jimmy Trikeriotis. The OEM bicycle manufacturer is a newcomer in the European bike sector and has a current production capacity of 500,000 units. With the recently completed wheel assembly building and a new hall for frame building and painting as well as a logistics warehouse, for which ground has already been broken, the 20,000 m2 facility is projected to yield an annual production capacity of 2,000,000 units for the 2005 production year.
That there’s an attempt to takeover B-Tech is, according to a company’s spokesperson: “Expressed by the fact that a person or company is attempting to squeeze us financially. This company is, according to our sources, doing this to get us to file for bankruptcy so it is able to takeover B-Tech much below its book value. The squeeze we are currently faced with, is hampering our ability to open LC’s which we need to source some of our components in the Far East.”
According to B-Tech shareholder Jimmy Trikeriotis, “We are doing everything in our power to fight this hostile takeover attempt. We believe that, as an OEM manufacturer, it is crucial to maintain independence from external control and influence. A number of key customers, suppliers and other interested parties are rallying to support our efforts, and we are completely confident that we will be successful in overcoming this attack, and will emerge even stronger.”
B-Tech, located in Kilkis, Greece, offers a full range of OEM bicycles to European wholesalers, dealers and distributors. (JO)

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