THE HAGUE, Netherlands (BRAIN)—The Dutch government has ordered Accell Group, Gazelle and Giant to pay a total of more than 19 million euros ($25 million) in fines stemming from a 2000 anti-competition case.
MEQUON, WI (BRAIN)—Hayes Components has opened a new European headquarters in Munich, Germany.
Hayes has six locations globally. Headquartered in Mequon, Wisconsin, Hayes has manufacturing facilities and sales offices in Milwaukee, Wisconsin, Taipei, Taiwan, Wugu, Taiwan and Jinhua, China.
BALLYCLARE, Ireland (BRAIN)—Irish online retailer Chain Reaction Cycles reported pre-tax profits of 13.3 million British Pounds ($20. 8 million) last year and sales of 109.4 million pounds ($171 million), according to British media reports.
CLOPPENBURG, Germany (BRAIN)—Derby Cycle has reached an agreement with Dutch Pon Holdings to acquire all the company’s shares, averting a hostile takeover by competitor Accell Group.
Pon, one of the largest family-owned businesses in the Netherlands, is an international trading and service company.
MASER, Italy (BRAIN)—Sidi took over distribution this month in its home market of Italy with the formation of a new company-owned subsidiary, Sidi Italia.
Sidi Italia replaces a longtime distributor in that market.
KOBLENZ, Germany (BRAIN)— Germany’s Canyon Bicycles will bring its consumer direct model to the U.S. with product showing up potentially as early as 2013, the company’s Stefan Gabler said. Canyon hired Gabler about six months ago as project manager for the U.S.
CLOPPENBURG, Germany (BRAIN)— Derby Cycle announced Monday that it’s in advanced negotiations with a new strategic partner to take over all shares of the public company.
WATERLOO, Wisconsin (BRAIN)—Trek has taken over distribution of the Bontrager and Trek brands in Mexico and started selling directly to retailers in that country this month.
Trek was previously distributed by Teknobike for the past decade, and has been present in the Mexican market for 20 years.
LONDON (BRAIN)—Brompton plans to pair with its dealers to open a handful of company branded stores in Asia and Europe in the next year, the company’s marketing manager Emerson Roberts said on Monday.
CLOPPEBURG, Germany (BRAIN)—Derby Cycles is reporting a 25 percent increase in pre-season orders after wrapping up the tradeshow season in Europe.
CLOPPENBURG, Germany (BRAIN)—Derby Cycle will be included in Germany’s SDAX index starting Sept. 19.
The SDAX is made up of 50 small and medium sized companies in Germany and represent the 81st-130th largest publicly traded companies in that country.
By Nicole Formosa
Bob Martin has worked at the Brooks saddle factory outside Birmingham, England’s once gritty industrial heart, for 52 years.
TAIPEI, Taiwan (BRAIN)—Taiwan’s top two manufacturers reported modest revenue increases in July and for the first seven months of the year, according to numbers released on the Taiwan Stock Exchange.
CLOPPENBURG, Germany (BRAIN)—Derby Cycle has taken over sales of its Focus brand in the U.K. from Wiggle as part of a new strategy to start direct distribution in that region.
Online retailer Wiggle had been Focus’ exclusive distributor in the U.K.
SCHWEINFURT, Germany (BRAIN)—SRAM will layoff another 27 people at its Schweinfurt, Germany, factory by the end of this month as it completes the second phase of its production shift to Taiwan.
CHAM, Switzerland (BRAIN)—Specialized has expanded its European headquarters in Switzerland adding R & D and engineering staff to work on projects specific to the domestic bike market.
GENEVA, Switzerland (BRAIN)—Kona Europe has appointed a UK sales and marketing team as part of parent company Kona Bicycles’ plan to go direct starting July 1.
AIGLE, Switzerland (BRAIN)—Cycling’s governing body opened its Swiss headquarters to a small group of trade and consumer journalists this week as it looks to improve its image and build a stronger relationship with the industry.
CLOPPENBURG, Germany (BRAIN)—Derby Cycle has acquired its former Australian distributor and has started direct sales in that country under a wholly owned subsidiary.