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Bruce Small retiresOn February 28 1958 Bruce Small retired. His subsequent careers as a property developer on Australia's Gold Coast and as a Member of the Queensland Parliament proved to be as equally colourful and controversial as his career in the bicycle industry.
General Accessories, which through internal restructuring now owned the name Malvern Star, was purchased by the firm Electronic Industries run by Sir Arthur Warner. The acquisition was primarily based on the bright future that was seen for the radio retailing side on the business. Electronic Industries were one of Australia's major players in the radio game with their "Astor" brand. Overnight bicycles went from being the mainstay of the company to being a small part of a larger corporate enterprise. For the next twenty years corporate strategy in the electronics industry would dictate the future of the bicycle company.
Australian production of bicycles, distribution and retailing continued, but the bicycle industry in Australia was in decline in the face of competition from the motor car. Increasing wealth brought more car ownership, the new sprawling suburbs of Australia's major cities were not suited to bicycle use and cars were the new social status symbol.
In 1959 General Accessories acquired the cycle division of A.G. Healing the major competitor to Malvern Star in Victoria.
In 1965 they acquired the Speedwell bicycle interests from Bennett and Wood including their Sydney factory and staff. Speedwell had been Malvern Star's major Australian competitor with a significant hold on the Sydney market. Speedwell and Malvern Star bikes continued to be sold under their separate names for at least the next ten years.
These acquisitions were part of major industry rationalisation and followed patters being set overseas. New models emerged, the small wheeled "City Bike" era passed, all without any sustained recovery.
Ó Rolf Lunsmann, 2000 How you can help Feedback
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