ULTIMA NETWORKS PLC
('Ultima' or 'the Company') Ultima launches leading UK electric bikes into mainland Europe
27 October 2008
Ultima is pleased to announce that its Product Division (which concentrates upon
'Green technology' products will commence distribution operations in Europe in
November 2008 from its new facilitation warehouse centred in Monchengladbach,
Germany.
The European market for electric bikes has been forecast to increase from
approximately 250,000 units in 2007 to some 750,000 in 2009. The Company will
market its highly successful PowaCycle electric bikes to Germany, Holland,
Belgium, Switzerland and France.
The Company's popular PowaCycle electric bikes have been adapted to meet
European requirements and will be available from the Company's German based
warehouse facilities from 3 November 2008 whilst the new high-end Infineum brand
will be available from 5 January 2009.
The decision to enter Europe follows the success experienced by Ultima's
PowaCycle brand, which has become the UK technology leader in electric bikes
after just 3 years, has developed an excellent reputation, and according to the
Company's own estimation has achieved approximately 15% of the UK electric bike
market by volume.
Commenting on the decision to launch in Europe, Wassim Mughal, Managing Director
of Ultima Networks said: 'We are very excited about opportunities in Europe. The
distribution centre located at Monchengladbach is close to the border with the
Netherlands, which is an ideal centre at the heart of the European electric bike
market. Germany and the Netherlands between them accounted for more than half of
all European electric bikes sold last year. According to market reports cited on
the Bike Europe web site, Dutch purchasers of electric bikes pay an average of
Euro1,800 at independent bicycle dealers for an electric bike - much higher than in
the UK, which augers well for margins.'
Enquiries: Ultima Networks Plc 01279 821 200 Humayun Mughal, Chairman and Chief Executive Anthony Klein, Finance Director Geoff Pick, Marketing Manager (Press enquiries) Blomfield Corporate Finance Limited 020 7489 4500 Alan MacKenzie James Pinner -