Mobility – Page 3
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ArticleFox Factory posts record sales and profits in challenging fiscal 2022
On Feb. 23, suspension specialist Fox Factory Holding Corp. announced financial results for the fourth quarter and full fiscal year 2022. Thanks to continued strong sales in the second half of the year, marked by a general reluctance to buy due to inflation, the U.S. company once again posted record ...
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News briefsCake launches all-in subscription model
Cake, the Swedish maker of premium lightweight electric motorcycles, has launched Cake Subscribe, an all-inclusive subscription model that caters to professional business needs. The new program aims to ease the burden of upfront costs associated with buying a vehicle or a fleet of vehicles by requiring no down payment. Service ...
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News briefsFox Factory to acquire Custom Wheel House
Fox Factory Holding Corp. announced that its subsidiary Fox Factory, Inc. has signed a definitive agreement to acquire California-based Custom Wheel House, LLC from Thompson Street Capital Partners and other sellers. The company designs, markets and distributes high-performance wheels, high-performance off-road tires and accessories for motorized vehicles. The purchase price ...
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News briefsMicro-mobility expert Kõu Mobility Group acquires majority stake in Ampler Bikes
On Feb. 14, Kõu Mobility Group and Ampler Bikes announced they are joining forces to strengthen their position in the micro-mobility sector. Both Estonia-based companies signed an investment and share exchange agreement that makes Kõu the new 51 percent majority shareholder of Ampler. Ardo Kaurit will remain CEO of the ...
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ArticleEmerald acquires U.S. organizer of Overland Expo Series
Trade show organizer Emerald Holding, Inc, responsible for the U.S. trade show Outdoor Retailer, among others, has acquired all assets of Lodestone Events, a U.S. event production company that owns and operates the Outside Adventure Expo and Overland Expo event series. According to an official statement, the acquisition supports “Emerald ...
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ArticleCake develops semi-autonomous electric ATV for regenerative agriculture
Source: Cake The Kibb Cake, the Swedish manufacturer of premium lightweight electric motorcycles, will move forward with the development of the Kibb, an electric, semi-autonomous, all-terrain vehicle tailored to the unique needs of regenerative agriculture. The Kibb is designed to perform light agricultural tasks autonomously and with ...
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ArticleCake and Volta Trucks join forces to provide the world’s first electric micro hub for last-mile deliveries
Cake, the Swedish manufacturer of light electric motorcycles, and Volta Trucks, a Swedish service provider and manufacturer of all-electric commercial vehicles, announced a joint initiative to provide global fashion giant H&M Group with fully integrated electric deliveries to its customers in Paris. From February 2023, H&M Group will be able ...
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ArticleYakima with new global organizational structure
Yakima, a manufacturer of transportation and equipment management solutions headquartered in Oregon, USA, has announced that Ryan Martin, current CEO of the Americas region, will expand his responsibilities to also drive strategic direction and growth in Australasia (Australia, New Zealand and the adjacent Pacific Islands) and EMEA (Europe, Middle East ...
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ArticleVista Outdoor shares take hit after guidance lowered
Jason Vanderbrink, president of Vista Outdoor’s sporting products division, told analysts, “We are bullish on the outdoor industry despite near-term macroeconomic conditions that have eroded consumer confidence and pressured performance across the (U.S.) economy. We always understood that the elevated purchase patterns of the last two-and-a-half years would normalize.” ...
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News briefsFox Factory delivers another solid quarter
Profit at Fox Factory, the maker of products for bicycles, off-road vehicles and motorcycles, among others, rose 16 percent to $50.8 million from $43.8 million for the quarter ended Sept. 30. Ebit was 19.7 percent higher at $64.1 million as operating income increased by 18.3 percent to $65.4 million from ...
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ArticleCake partners with Goldwin in Japan
Cake, the Swedish manufacturer of lightweight e-motorcycles, has signed a three-year partnership agreement in Japan with premium sportswear manufacturer and distributor Goldwin Inc. The partnership draws on Goldwin Inc.’s 70 years of experience and well-established network in manufacturing, distribution, sales and branding, working with premium sports and outdoor brands such ...
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News briefsCake expands operations in Italy
Source: Cake Cake bikes in Milan, Italy Cake, the Swedish manufacturer of premium lightweight electric motorcycles, announced that it is expanding its presence in Italy, making the fashion capital of Milan its local base. A local sales team is already in place, and the Cake pop-up store ...
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News briefsPierer Industrie AG acquires majority stake in Syntace
Austrian-based Pierer Industrie AG has acquired an unnamed majority stake in renowned German bicycle component manufacturer Syntace GmbH. No details of the purchase price were disclosed. Syntace develops and produces a wide range of high-quality lightweight products from wheels to hubs, handlebars, seat posts and pedals. The high-quality MTB niche ...
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ArticlePon Holdings continues to invest in the automotive and bicycle mobility segments
Source: Veloretti After the parent company of Pon Bike Group (PBG), Pon Holdings B.V., on June 1 became a minority shareholder in German car dealer Adelbert Moll GmbH & Co. KG (better known as Moll Group) for an undisclosed amount, the Dutch retail and services giant has ...
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ArticlePierer Mobility defies supply problems in H1
The half-year report presented on Aug. 30 underscores why Pierer Mobility AG had already raised its annual forecast for 2022 one day earlier via an ad hoc announcement: Despite aggravated delivery problems, the Austrian group achieved positive sales development in the first six months of the year. However, this could ...
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News briefsCake seals three-year partnership with Kolon Automotive for South Korea
Cake, SOG member and Swedish manufacturer of premium light electric motorcycles, announced the closing of a major partnership in South Korea with premium dealer Kolon Automotive, having just signed a three-year contract worth $20 million. The partnership builds on Kolon Automotive’s well-established network covering distribution, sales and branding, working with ...
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News briefsVista closes acquisition of Fox Racing
Vista Outdoor announced the closing of its acquisition of California-based Fox Racing for the purchase price of $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance (OIC reported earlier). The addition of Fox Racing allows Vista Outdoor to add another category-leading brand ...
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ArticleFox Factory with new sales records, gives cautious outlook
U.S.-based suspension specialist Fox Factory Corp. reported total revenues of $406.71 million (€399.48 million, +23.9% year-on-year) in its second fiscal quarter of 2022. This amount is split between the Powered Vehicles Group (PVD, $229.03 million, +20.9%) and the Specialty Sports Group (SSD, $177.67 million, +28.1%). SSD sales increased due to ...
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News briefsUSWE nominates Frisk for board of directors
USWE Sports’ nomination committee has proposed the re-election of Mats Jacobson, Martin Kössler, Jenny Graflind and Joel Eklund as ordinary members, Jacobson as chairman of its board of directors. Current board member Fredrik Carling has declined his re-election. In addition, Helena Nordman-Knutson and Patrik Frisk were nominated for election as ...
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News briefsItalmobiliare acquires Sidi Sport
Italmobiliare has invested in Sidi Sport, the iconic Italian brand specializing in cycling and motorcycling footwear. As per the terms of the agreement, 100 percent of the capital of Sidi Sport S.r.l. will be taken over by Italmobiliare for €66 million, in addition to the net cash held by the ...
