REDDITCH, UK - The UK's leading brick and mortar cycle retailer Halfords has issued upgraded profits guidance driven by both cycling and motoring growth. This was announced at the publication of the interim results for the 26 weeks to 1 October 2021.
TERNDRUP, Denmark - Cykelgear, the Danish e-commerce business for bike components, has agreed on selling a majority stake in the company to investment firm, Foreman Capital. The partnership will allow the company to fulfil its growth ambitions and further grow the e-commerce platform across the Nordics. The purchase price has not been disclosed.
SHENZEN, China - Two Dahon innovations were awarded this year at China Cycle. The 'safety disc brake' received a Gold Award and the 'Curl Folding e-bike' an Invention Award. Due to COVID-19 the folding bike company could not display at Eurobike which is according to Dahon, is still "their most favourite international show". What more innovation can we expect from Dahon?
HEERENVEEN, the Netherlands - Supply chain constraints which have been hampering the e-bike and bicycle industry for more than a year, caused a sales decline in Germany, Austria, Switzerland and Eastern-Europe between January-June as Accell Group reported today.
DENKENDORF, Germany - Gearbox manufacturer, Pinion has introduced the durable T-Line gearbox series for heavy-duty cargo bikes. With this new product line, the company says it "is committed to ensuring that cargo bikes become established as the reliable and environmentally friendly choice for 'last mile' delivery of small parcel shipments".
BAUNACH, Germany - Consumer electronics supplier Hama has acquired a majority share in Messingschlager. "This is the best step in order to take our company further and to position it properly for the next few years," says Benno Messingschlager, former owner of the Messingschlager GmbH & Co. KG.
BUCHAREST, Romania - Andrei Botescu, the founder of bicycle producer Atelierele Pegas, and four other shareholders have sold all their remaining shares in the vintage bicycle brand. Network One Distribution (NOD), which is fully controlled by Iulian Stanciu, CEO of the large Romanian online retailer, has become the sole shareholder of the company.
CHICAGO, USA - SRAM is the new owner of the entire range of road and mountain bike pedals, cleats, and all related patents of Time Sport. The iconic brand Time Sports has finally been split-up between two companies now previous owner Rossignol Group and SRAM concluded the agreement on 18 February.
STOCKHOLM, Sweden - European micro-mobility operator, Voi, is collaborating with Bumblebee Power, a spin-out company from Imperial College London on testing trials of technology that enables efficient wireless power transfer for micro-mobility vehicles, including e-scooters and e-bikes.
EAST KILBRIDE, Scotland - FreeFlow Technologies (FFT), a Scottish company who developed a lightweight, in-frame e-bike motor has secured £1.85 million in a second round of funding. The company, chaired by former Dyson CEO, will use the investment will support a move to a new headquarters and R&D facility.
MONTRÉAL, Canada - Dorel Industries has reached an agreement in principle whereby Dorel would be taken private by a buyer group led by affiliates of Cerberus Capital Management, LP and the current shareholders of families Schwartz and Segel.
REDDITCH, UK - Halfords has released an update on its trading performance for the last 20-week period showing very positive cycling-related sales despite the end of the summer holiday season. An uptake in cycling as a "safer means of transport" in the United Kingdom is fuelling demand.
SUNDERN, Germany - For the clip-on mudguard category SKS has developed a new model offering maximum stability and flexibility. The Veloflexx set combines the advantages offered by a fixed mudguard and the ease of a clip-on mudguard.
KOBLENZ, Germany - Bicycle manufacturer, Canyon, has teamed up with the Technical University of Aachen, Germany to design a new form of urban transportation. After two years in the making, they claim the 'Future mobility concept', is a "revolutionary alternative to both the automobile and the bicycle."
REDDITCH, UK - Halfords Group plc, the UK's largest cycling retailer, has posted Q2 results for the 13 weeks to July 3rd showing an incredible 57.1% like-for-like growth in cycling sales. Clearly the impact of coronavirus was a key driver, with the British public turning to two wheels for exercise and transport to work (avoiding public transport) during the lockdown.
STOCKHOLM, Sweden - While the corona pandemic forced market leader Shimano Inc. to shift down a couple of gears, two Swedish industry participants, Thule Group AB and MIPS AB, were able to keep their first interim quarter results on a solid (Thule Group) and still promising (MIPS) base.
HEERENVEEN, the Netherlands - Yesterday evening Accell Group announced a package of measures taken to ensure business continuity. These actions were taken, "in the light of the unforeseen and unprecedented impact of the coronavirus on economic activity and the markets we are operating in, and the uncertainty regarding the length and depth of the pandemic outbreak," notes Accell Group in a statement.
OSAKA, Japan - Shimano Inc expects to generate extraordinary income this year with the return of land belonging to one of its Chinese (Kunshan and Tianjin) plants.
MANDEURE, France - Last Friday the French PSA Group (Peugeot - Citroen's automotive business) announced that Mahindra Two Wheelers Europe will acquire the remaining 49 percent of Peugeot Motocycle (PMTC). Five years ago, this company took over a majority shareholding in the French scooter maker for 15 million euro.
TAICHUNG, Taiwan - To expand their European activities, screen print product supplier TransArt took over Doublepress in the Netherlands. "Since we were listed in 2017, we have been looking for production in Europe."
