Merida Industry Co., Ltd.
TypePublic
TWSE: 9914
IndustryBicycle manufacturing
Founded1972
HeadquartersYuanlin, Changhua, Taiwan
Key people
Michael Tseng, CEO
ProductsBicycles
Revenue$1.05 billion[1] (2021)
$56.9 million[1] (2021)
$171 million[1] (2021)
Total assets$1.27 billion[1] (2021)
Total equity$665 million[1] (2021)
Websitemerida-bikes.com

Merida Industry Co., Ltd (MIC; Chinese: 美利達工業) is a Taiwan-based company with R&D headquarters in Germany that designs, manufactures, and markets bicycles globally in over 77 countries. Founded in 1972 by Ike Tseng (1932–2012), the company designs and manufactures over two million bicycles a year at its factories in Taiwan, China, and Germany. After Tseng's death in January 2012, his son Michael Tseng became the company's president.

After making bicycles as an original equipment manufacturer for numerous other brands, the company established its own brand, Merida, in 1988.[2] The company currently designs and manufactures bicycles primarily for its own brand — and for brands with which it shares financial interest, including the now German brand Centurion.[3]

Merida has been a publicly traded company on the Taiwanese stock exchange since 1992 and is valued as of 2012 at approximately £350 million, making it one of Taiwan's largest companies.[4]

The name Merida derives roughly from the translation of its three syllables měi-lì-dá, which mirror the company's goal to manufacture bikes that enable the customer to reach their destination.[5]

History

Merida Reacto Team
Kristijan Đurasek at Tour de France in 2014

The original Merida factory was organized after the Raleigh Nottingham factory as the company began by making Raleigh bikes for the North American market. Tseng would later develop his own welding robots to meet his production goals.[6]

In 2001, Merida bought 49% of Specialized for a reported US$30 million, with its CEO and founder Mike Sinyard remaining the majority owner.[7][8] In the past, Merida manufactured bicycles for companies including Mongoose. In 2007, Merida invested $7 million to renovate its 35-year-old factory in Taichung, without halting production.[9]

Sponsorship

Merida has been co-sponsor of the Multivan Merida Biking Team, with athletes such as José Antonio Hermida and Gunn-Rita Dahle Flesjå, and of bicycle racing events such as the TransUK and TransWales mountain bike races.[10] Since 2004, the team has been scoring over 30 World Cup wins as well as Olympic gold and silver medals.[11]

In 2013 Merida became co-sponsors of the Pro-Tour Lampre-Merida road racing team and changed to Bahrain–Merida Pro Cycling Team in 2017, which is called Team Bahrain Victorious since 2021.

See also

References

  1. 1 2 3 4 5 "2021 Annual Report" (PDF). Merida Bikes. 15 March 2022. p. 262. Retrieved 15 March 2022.
  2. ↑ Ludovic Péron, Trek Bicycle (22 October 2016). "15 Extremely Popular Bicycle Brands In The World".
  3. ↑ German BIKE Magazin Milestone award 2008
  4. ↑ "::::::Branding Taiwan 品牌台灣--Brand Stories::::::". Archived from the original on 2009-08-02. Retrieved 2009-04-03. Branding Taiwan
  5. ↑ "About Us, Merida".
  6. ↑ George Scott (3 February 2012). "Merida founder Ike Tseng passes away". Bike Magic.
  7. ↑ "Bike Europe - News: Correction: Merida Buys 49% of Specialized". Archived from the original on 2009-04-15. Retrieved 2010-08-19.
  8. ↑ "Correction: Merida Buys 49% of Specialized". Bike Europe. 2001-08-08. Retrieved 2013-02-17.
  9. ↑ "A-Team Profile — Michael Tseng". Bicycle Retailer. 5 May 2008.
  10. ↑ Skinner, Matt (25 February 2009). "After 7 days and 550km of riding with 15,500m of climbing the Merida Bikes TransWales 2008 is over". Bikemag.com. Archived from the original on 8 January 2009. Retrieved 9 March 2009.
  11. ↑ "Multivan Merida Biking Team - Merida Bikes International". Archived from the original on 2012-11-14. Retrieved 2012-11-13.
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