Shimano will be overhauling its business in Spain and Portugal on Jan.1 by establishing a subsidiary in the city of Alcobendas, in the autonomous community of Madrid. Shimano Iberia will in turn be establishing a business network of its own for the distribution, commercialization and sale of cycling components and equipment in the two countries. By July 1 the network will be handling Shimano’s fishing tackle as well. Shimano Iberia will have a staff of about 50 and operate under Eduardo Roldán, the current chief executive of Shimano Italia. He will hold the same title over both subsidiaries. Shimano Europe came to terms in May of this year with Marco Llorente, its exclusive cycling distributor in Spain for the past 31 years. Their deal is set to end on Dec. 31.