The biggest bicycle producer, Lithuanian-German company Baltik Vairas, grew by 27% last year
Published:
10 March 2001 y., Saturday
The biggest bicycle producer, Lithuanian-German company Baltik Vairas, grew by 27% last year, had a record turnover of USD 27 mln and expects to expand another 10% this year.
Baltik Vairas plan to sell 280,000 bicycles this year (last year’s sales 256,000 bicycles) and reach a turnover of USD 30mln.
Last year the company exported 98% of its production, 91% of which were sold in Western Europe and the rest in the Baltic states, Russia and CIS.
German company “Schminke-WerkeGmbH” (SW) has 90% of the company’s shares. Baltik vairas’ main trading partner in the West is the company “Pantherwerke AG”, which together with “Baltik Vairas” belongs to the Panther group of companies.
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