Velox Invests in Wheel Building Machinery
PARIS, France – Founded in 1903, the company Velox has been restructured completely since Patrick Guinard’s acquisition in 2011. “Our financial results are positive again and our turnover is increasing. Since the start of the year we are receiving more and more orders,” said Velox president and CEO Patrick Guinard.
Located in Argenteuil in the North of Paris’ suburbs plus a second factory in Brittany (La Guerche-de-Bretagne), the company generated turnover of €3 million last year. Guidoline is certainly the most well-known brand of the company. “We offer a wide range of products including more than 100 different kinds of handlebar tapes which are all manufactured in France”, Guinard said adding that the company is also producing and selling millions of repair kits.
120,000 wheels per year
Besides the company’s brands like Guidoline and Velox, Patrick Guinard is particularly proud on his wheel set manufacturing and distribution in France and Belgium. “With our annual production of 120,000 wheel sets in our factory in Brittany we claim to be the number one in wheel manufacturing for aftermarket in France and Belgium,” Patrick Guinard explains.
In the past years Patrick Guinard has built strong relationships with companies like one of Europe’s largest rim manufacturers Mach 1. Velox is also working more and more with Mavic, Miche and Shimano to source hubs. Velox has developed a wide range of aluminum wheel set. “This category can be only made close to the market because of the transportation costs. Although the weight is low, the wheels are still bulky,” Guinard claimed.
Production capacity and export
The importance of investments is a major part of Patrick Guinard’s business philosophy: “I think that as soon as a company no longer invests it will disappear and that is why we pay so much attention to investments. Our new facility in Guerche-de-Bretagne is a fine example. Here our teams can work in the best possible conditions,” Guinard said.
By the end of this year, a part of the production capacity of Argenteuil will be transferred to the factory in Brittany. That’s not all. Year after year Velox invested in machinery. “At the end of 2016, we invested no less €120,000 in rim making machinery. This might be a lot of money for a machine, but it was complete made according to the specifications of our engineers,” Guinard explains.
Besides the investment in the production, Velox is also looking to expand the number of export markets. Velox has always had a strong presence abroad, mainly in the United States. Today, some 55 % of the turnover is still generated on the French market. Except the US, Velox has also developed its business in European countries like Germany, Italy, Switzerland, Austria, Belgium and the Netherlands. In Asia Velox is exporting to Korea, Taiwan, China and Japan. “On export markets, ‘made in France’ is highly in demand and Velox is recognized internationally,” said Patrick Guinard.