By Kwan Shin-han / Staff reporterBicycle maker Merida Industry Co (美利達) plans to invest 12 million euros (US$13.66 million) expanding its German subsidiary to an annual output of 90,000 units in three years, as sales of electric bicycles rise steadily. To meet the growing demand for electric bicycles in Europe, Merida & Centurion Germany GmbH (MCG) is to build new production lines in the third quarter, a Merida public relations official told the Taipei Times by telephone yesterday. The official said the investment in MCG, in which Merida holds a 60 percent stake, would make sure the unit has sufficient components for electric bikes. Merida also plans to increase its stake in Japanese bicycle manufacturer Miyata Cycle Co Ltd from 45 percent to 70 percent this year, the company said. That was a dividend yield of 1.9 percent based on yesterday’s closing price of NT$184.5 in Taipei trading.

Source: Taipei Times June 25, 2019 15:56 UTC