Join Date: Nov 2006
Location: NJ, NYC, LI
Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
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They are generically called U-framed folding bikes. I have seen countless brands of these throughout Europe, often made in Italy or Czechoslovakia, sometimes Germany. They are often rebranded, so for example a Peugeot may be made in Italy. The frame design --the hinge, and especially the mechanism that keeps the frame from folding-- has a bad reputation.
As long as you can get tires for it (sometimes they are a funky European size that will be a challenge) you should be able to make it rideable, and it may be a fun little bike; but not a collector's item.