Information  X 
Enter a valid email address

Ultima Networks PLC (UTN)

  Print      Mail a friend       Annual reports

Monday 27 October, 2008

Ultima Networks PLC

Ultima launches leading UK electric bikes into ...

                               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 Mönchengladbach,
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 Mönchengladbach 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
€1,800 at independent bicycle dealers for an electric bike - much higher than in
the UK, which augers well for margins."

End

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

-END-