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PRESS RELEASE: MIFA launches cooperation venture with European bicycle group Cycleurope

DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Alliance MIFA launches cooperation venture with European bicycle group Cycleurope

19.12.2013 / 10:38

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MIFA launches cooperation venture with European bicycle group Cycleurope

- Production and international sales cooperation venture in high-quality brand bikes area

- Updated forecast: FY 2013 consolidated revenue slightly below expectations; medium-term forecast confirmed

Sangerhausen, 19 December 2013 - MIFA Mitteldeutsche Fahrradwerke AG (WKN share: A0B95Y, ISIN share: DE000A0B95Y8), Germany's largest manufacturer of bicycles in terms of sales, has expanded its sphere of international activities to include a strategic partnership with globally-operating Cycleurope AB, one of Europe's largest bicycle groups.

As from 2014, MIFA and Cycleurope will cooperate for the development and production of bikes and e-bikes in the high-end market segment. At the same time, both companies will review their international sales network and footprint and will engage cooperation to increase sales and market share of respective high-end brands. With regards to their domestic market and position, both companies should benefit from their strong presence and organization.

Cycleurope is part of Grimaldi Industri AB Group in Sweden. Today its brand portfolio includes the following well-known brands: Bianchi, Crescent, DBS, Definitive, Kildemoes, Gitane, Monark, Peugeot and Puch. These brands are distributed through the company's numerous own branches and distributors in Europe and worldwide.

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PRESS RELEASE: MIFA launches cooperation venture with European bicycle group Cycleurope