International
TAICHUNG, Taiwan (BRAIN) — Giant Group is developing a plan to reimburse current migrant workers at its factories for recruitment fees they paid prior to Jan. 1, 2025, when the company began paying its current workers' recruitment fees.
(VELO) — The Belgian Competition Authority has handed SRAM a win in its dispute with the UCI over a new road-racing rule that would have made some SRAM drivetrains illegal in competition.
TAICHUNG, Taiwan (BRAIN) — Giant Group says U.S. Customs and Border Patrol officials never visited its factories or had any direct contact with the company before announcing Wednesday that would detain Giant shipments to the U.S. because of alleged forced labor.
WASHINGTON (BRAIN) — Customs and Border Protection on Wednesday said it will detain bikes, bike parts and accessories made by Giant in Taiwan because of allegations of forced-labor use. The ruling appears to apply to products sold under Giant's brands or produced by Giant in Taiwan for other brands.
TAICHUNG, Taiwan (BRAIN) — As the industry gathered here last week for Taichung Bike Week, a low-key but important OE event, companies are struggling with pockets of high inventory, pervasive fear of discounting, wars that are disrupting supply chains and markets, historically high U.S. tariffs, and high fuel costs in Europe, among other disruptions.
TOKYO (BRAIN) — Shimano has apologized after Japanese authorities cited the company for delaying payment to some subcontractors.
TAICHUNG, Taiwan (BRAIN) — Just prior to the opening of the Taichung Bike Week OE event here this week, three of Taiwan’s largest OE bike makers announced that operating revenues had declined in August, with two of them down for the year-to-date.
TAICHUNG, Taiwan (BRAIN) — Belgian Cycling Factory opened an office here that will focus on sourcing, R&D support, and other facets for its four brands.
VIENNA (BRAIN) — Woom announced it had the best six months in its 12-year history with a 41% increase in revenue.
CHICAGO (BRAIN) — SRAM will open a new facility in the Varese region of Italy next year. The facility will be home to chainring spider manufacturer Ochain, which SRAM acquired in July.
WASHINGTON (BRAIN) — The U.S. mass market bike industry began looking to India as a supply source this year, with U.S. bike imports from the country — while still small relative to other major nations — up 98% in value this year through July, according to figures released Thursday.
HEERENVEEN, Netherlands (BRAIN) — Accell Group announced it will close its factory here by the end of the first quarter next year, resulting in the loss of about 160 jobs. Afterward, production will take place in Hungary with assembly in Dijon, France.
DACUN TOWNSHIP, Taiwan (BRAIN) — Taiwan bike makers Merida Industries and Ideal Bike are each reporting first-half comprehensive losses as the Taiwan dollar gains strength against most currencies. Giant and Shimano also have recently blamed poor earnings reports, in part, on exchange rates.
TAIPEI (BRAIN) — Giant Group says its inventory-to-asset ratios have returned to "healthy pre-pandemic standards" following an inventory streamlining program. The company also said sales to its original equipment customers were up 30% in the first half of its fiscal year.
PARIS (BRAIN) — The French bike industry is on the verge of big changes due to the recently announced plans of the national government to create conditions for almost doubling of domestic production of bikes and more active popularization of cycling in the country in years to come.
TAIPEI, Taiwan (BRAIN) — Giant Group’s revenues in the first half of the year totaled NT$32.6 billion ($1.1 billion), down 12.4% from the same period last year.
GIVISIEZ, Switzerland (BRAIN) — Reto Aeschbacher, who has led Scott Sports' marketing for nearly 30 years, is leaving the company to become CEO of Bergbahnen Lenzerheide, the company that operates the cable cars and ski lifts in the Lenzerheide ski resort area in Switzerland.
TAICHUNG, Taiwan (BRAIN) — Giant Group's sales to America — under its own brand and to its original equipment customers — have declined steeply since the pandemic even as sales in Asia, China in particular, have grown significantly.
TAIPEI, Taiwan (BRAIN) — Ideal Bike and Merida Industries, two Taiwan-based bike manufacturers, have filed their first-quarter earnings reports with the Taipei stock exchange.
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