SUZHOU, China- After a six-year tenure at the helm of the Bafang European headquarters in Wijchen, the Netherlands, Jack Brandsen will depart the company as of March 31st.

TREVISO, Italy - The Pinarello Group, together with majority shareholder L Catterton, have announced key investments in top management creating an organisational structure which has been "designed to boost growth initiatives and accelerate the brand's development".

MUNDERFING, Austria - In a move to give the company's fast-growing e-mobility segment even more clout, on 25 February 2020 Austrian Pierer Mobility AG (former KTM Industries AG) established Husqvarna E-Bicycles GmbH as a wholly-owned subsidiary with headquarters in Munderfing, Austria.

MADRID, Spain - Shimano Europe is setting up its own business operation in Spain for cycling components, cycling gear and fishing tackle, ending the exclusive distribution agreement with Macario Llorente. The operation will be named Shimano Iberia S.L.

DOETINCHEM, the Netherlands - The measures taken by European governments to limit the Coronavirus as much as possible have had a major impact on the bicycle industry. OEMs were already prepared for the disruption of component's supplies from China but now multiple assembly factories in Europe are closed.

BERGAMO, Italy - Vittoria, one of the world's leading manufacturers of bicycle tires with an annual production of more than 7 million tires and 900,000 high performance tubulars and cotton tires has changed ownership. Vittoria Group's President and CEO Rudi Campagne (76) presented the Italian private equity fund, Wise Equity, as the new owner of Vittoria Industries Ltd.

LONDON, UK - To facilitate its European expansion, insurance company Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and by Ponooc, who has close ties to Pon, and ABN AMRO, to €12.7 million.

AALBORG, Denmark - PentaLock has raised €1.6 million in pre-seed funding from current investors and a lineup of Danish business angels. This investment will allow the start-up to make the next step in developing the company and meeting the target market's needs.

BREMBATE, Italy - To fund its investments in capacity and innovation in both Thailand and Italy, Vittoria owners WISE Equite and Vittoria's management entered an innovative financing operation. They issued a 5-million-euro bond with a duration of 6 years which is initially fully subscribed by UniCredit.

CAVARZERE, Italy - In a devastating fire the Italian bicycle facility of Bottecchia Cicli di Cavarzere was damaged badly last Sunday. According to the latest report, the fire brigade managed to bring the fire under control, however it destroyed the central warehouse of the bicycle factory of approximately 6,000 square meters.