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."
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OSAKA, Japan - In its report on the financial results made in the first half year of 2019 Shimano names specifically its STEPS e-bike drive system as one of the growth drivers, next to disc brake components for high-end road bikes.
ANNECY, France - Amer Sports has completed its divestment of Mavic SAS. The Finnish sporting goods manufacturer has finalized the sale of its French bike subsidiary to private equity firm Regent LP.
TAINAN, Taiwan - Rising e-bike and high-end bicycle sales in the first quarter of this year as reported by Taiwan's largest bicycle makers Giant and Merida works out positively for the country's parts and component suppliers.
DELFT, the Netherlands - It's a kind of power steering for e-bikes but much smarter than the ones for cars. At least this is what the Technical University in Delft, the Netherlands and Gazelle claim. T
BONN, Germany - Germany's national competition authority (Bundeskartellamt) announces that it has imposed an over ten million euro fine on the Cologne-based dealer cooperative Zweirad-Einkaufs-Genossenschaft eG (ZEG).
PIETARSAARI, Finland - Sponsor Capital has acquired the majority of the shares of Herrmans; the Finnish producer of bicycle components and heavy-duty light solutions. The new owner of the company is to support future growth and to further strengthen Herrmans' market position and competitive advantages.
The brand name Bike More was not new to Cycertec for its cycling apparel portfolio. The Taiwanese company has expanded its range outside its regular offering. For Trekking Bike More developed a under saddle bag made of 100 percent waterproof TPU.
AMSTERDAM, the Netherlands - Enviolo has redesigned its cargo stepless shifting system to cater for the increasing cargobike market. For MY2020, the heavy-duty groupset will be only available in a single piece axle version at a 10x135 dropout variant, simplifying the mounting process for bicycle manufacturers.
