Weinmann Closes Illinois Factory
OLNEY, IL (BRAIN)--Weinmann closed its rim factory in Olney, Illinois, and shifted all Western hemisphere production to its plant in San Luis Potosi, Mexico. Also, Alesa, its European parent company, declared bankruptcy. Alesa is owned by the Rigida Group.
"Weinmann
Inc. isn't itself in Chapter 11--it isn't in bankruptcy. It has sold its [U.S.] real estate, it's winding down its business and it will exit the rim-making business in the United States because the market has disappeared," said Kevin Duffy, Weinmann USA's president.
With the departure of large-scale bicycle manufacturing from the United States to China and Taiwan, components makers have followed their customers to Asia.
"In this background there is no purpose in having a Weinmann, Inc., because there is no demand for its products. We have taken the decision to close it," Duffy said. Similar situations in Europe--a flat market and growing dependence on imports--led to Alesa's bankruptcy.
"Weinmann
With the departure of large-scale bicycle manufacturing from the United States to China and Taiwan, components makers have followed their customers to Asia.
"In this background there is no purpose in having a Weinmann, Inc., because there is no demand for its products. We have taken the decision to close it," Duffy said. Similar situations in Europe--a flat market and growing dependence on imports--led to Alesa's bankruptcy.
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