NMa: Rectification of Press Release on Cartel of Bicycle Manufacturers

In the press release issued by the Netherlands Competition Authority (NMa) on 28 November 2002 in relation to cartel agreements between bicycle manufacturers the suggestion was erroneously made that Larcom Life Cycles International B.V. was involved in the system of exchanging sensitive competitive information.

On 20 November 2001, Union B.V. was declared bankrupt. On 29 November 2001, Larcom Life Cycles International B.V. took over the assets and brand name Union. During its investigation, NMa did find evidence that Union B.V. had been involved at the time in the exchange of sense of competitive information up until the moment at which it was declared bankrupt. After the assets and brand name Union were taken over by Larcom Life Cycles International B.V. on 29 November 2001, Union was no longer involved in the system of exchanging sensitive competitive information.