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I'd suspect a copy but it seems a lot of trouble to go to create a low cost fake. Bought one for my Galibier anyway - will look nice - just curious! Bob
Had a couple of these posts on bikes I've bought in Belgium. Did wonder if they were made by Baylis-Wiley but the other parts on the various bikes were not, so didn't give it much more thought.
All kinds of relatively small and obscure makers of bike parts in Belgium and the Netherlands - Kermesse cranks, Junckers, Lepper saddles...