Taiwan's leading bicycle maker Giant Manufacturing Co., Ltd. has won a contract order for carbon-fiber racing bicycles from Colnago of Italy, the so-called Ferrari in the bicycle industry.
Giant is scheduled to begin shipment of high-end carbon-fiber bicycles to Colnago in the second half, marking the entry of Taiwan bicycle industry's into the top of the market pyramid.
Giant has long reportedly planned to forge comprehensive cooperation ties with Colnago by acquiring a 51 percent controlling stake in the Italian maker of high-end bikes. Hsu Li-chun, special assistant at Giant's administration department, denied the stake-acquisition reports but admitted that his company has won orders from Colnago. Giant and Colnago are expected to develop broader cooperation ties in the future based on each other's requirements, Hsu said.