COIMBRA, Portugal (BRAIN) — SRAM officially opened a new TIME pedal factory here on Friday, with an inauguration celebration presided over by the mayor. The city said the factory will produce 200,000 pairs of pedals per year and create 25 new jobs by next November.
According to a release from the city, the new facility has an area of 6,500 square feet that can be quickly expanded to 12,000 square feet. Currently the factory has created six new jobs but plans call for adding another 18-20 workers by next November. The factory also will eventually make hubs and wheels, the city said.
“The acquisition of TIME will allow SRAM to continue and diversify its product line, this time in the production of pedals, contributing to the development of the cycling industry in Portugal,” said Isabel Gomes, the director of SRAM in Portugal.
Gil Nadais, the Secretary-General of Portugal's National Association of Two-Wheel Industries, Hardware, Furniture and Related Products, ABIMOTA, said, "Over the last few years, the Portuguese two-wheel and smooth mobility sector, with a strong contribution from our Portugal Bike Value project, has struggled to provide the country and Europe with ever greater production capacity, reducing dependence on foreign markets and developing shorter distribution chains. With this unit, we take an important step towards achieving these goals."
SRAM bought the TIME shoe and pedal business from the Rossignol Group in February. Rossignol sold the TIME frame and bike business to Cardinal Cycling Group.
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The Mayor of Coimbra, Manuel Machado, spoke at the opening.
