BUSINESS MEMO: BICYCLE PRODUCTION

Huffy Bicycle Corp. will increase production at its plant in Farmington, Mo., which currently employs about 500.

The bicycle company announced last week it was closing its Celina, Ohio plant by the end of the year, shutting down almost 1,000 jobs.

Thomas Frederick, vice president of finance and chief financial officer, said the company will continue buying bicycles from Asia and begin importing them from Mexico. The company said the move is necessary because foreign competition, especially in Asia, has driven down retail prices and reduced profit margins.

Bicycles produced in Asia cost about 20 percent less than comparable U.S. models, said Huffy, which is based in the Dayton suburb of Miamisburg.

Huffy Corp., the leading U.S. bike maker, opened its Farmington facility in 1994.