Shimano establish South-East Europe joint venture with NMSA
Shimano Europe BV has announced the establishment of a joint venture company with Nikos Maniatopoulos S.A. (NMSA), which will start operating as Shimano South-East Europe.
The joint-venture will carry out all sales, marketing, service and logistic activities for bicycle components and fishing tackle gear in the area of South-East Europe, of which the bicycle component activities are currently already undertaken by the Eurotrade subsidiaries of NMSA.
Countries involved are: Greece-Cyprus (only for bike compo related businesses), Slovenia, Croatia,
Serbia, Montenegro, Bosnia & Herzegovina, North Macedonia, Kosovo, Albania, Romania, Moldova and
Bulgaria.
Marc van Rooij
, President of Shimano Europe BV comments: “We are happy to announce this joint venture with NMSA. Shimano has grown enormously in recent years and the demand for our products is
increasing every year. In order to be able to meet the continuously changing requirements of our customers and to grow further, this joint venture is a great opportunity for both parties to further develop our sales, marketing and services in the South-East European markets. I am more than confident that this joint venture will positively contribute to this challenge”.
Angelo Maniatopoulos, CEO of NMSA comments: “The joint venture with Shimano Europe is the natural step into the future, after almost 30 years as Shimano bike components independent distributor. Our company, in close cooperation and coordination with Shimano Europe, has established a network of five Eurotrade subsidiaries, aiming at the best possible Shimano distribution in the South-East European markets. This project is now matured, ready to elevate onto the next stage of service for our customers, and experiences for our end consumers. No better way for this than stay on the same, reliable path of co-existence with Shimano Europe”.
The global business recently announced its 2022 financial reporting, showing the year to have again been a record year. Forecasting into 2023 the brand was noticeably cautious in setting its (and the markets) expectations.
