Taiwanese bicycle manufacturer, Cycle Citi, is investing £3m in Bangor, Wales, with help from the Welsh Development Agency.
The company plans to manufacture 250,000 units in its first 12 months and build up to 350,000 bicycles a year within three years. The new plant is in a 40,000sq ft unit on the Llandegai Industrial Estate and will make the company one of the biggest cycle makers in Europe.
An estimated at 65% of bike sales in Europe are Taiwanese imports. The UK bicycle market has been growing rapidly over recent years and Cycle Citi is planning to produce a range of models including a folding bicycle.
Investment £3m: jobs created; more than 160; completion in three years.
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