British Magnate to Bring Bulk Bike Making Back to UK
LONDON, UK – British steel magnate with cycle business background wants to make UK cycle manufacture part of his ‘Green Steel’ strategy. Commodities and industrials group Liberty House say they are planning to launch a range of UK manufactured bikes in spring 2017.
Liberty House, which bought large parts of troubled Tata Steel in 2016, is lead by Sanjeev Guptar and acquired the Trillion bicycle business in early 2016.
Building up staff and production
Liberty say they will release three or four bikes in the near term with the first model being announced in February at the London cycle show. Teaser information so far released suggests there will be a steel framed single-speed and high-end carbon fibre and titanium models. Currently Trillion only employs three people but there are plans to build up staff and production throughout 2017.
Liberty has been on a UK buying spree over the past 12 months, spending more than GBP 500 million on British industrial businesses including not only remnants of the British steel sector but also Britain’s last remaining aluminium smelter at Fort William.
Bike industry background
Liberty House Executive Chairman Sanjeev Gupta said, “There is a clear opportunity. There is not much recycling in the UK unlike other places in the world, So there is a gap which has developed in the market.”
If steel prices continue to rise and the pound to fall that may also well help Gupta’s plan to hit a UK annual steel output of 5 million tonnes. The plan aims to use UK scrap steel and green energy. Gupta also has some bike industry background, as he took two gap years, selling bicycles in Turkey for his father’s company.
Only two volume manufacturers
The only current volume manufacturers of cycles in the UK are Brompton and Pashley whose combined annual output numbers in the tens of thousands and who sell at the higher end of the market.