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MBB Gelma to Take Over Kynast AG

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QUAKENBRUCK, Germany (9 August 2000) — Kynast AG has found a new investor. MBB Gelma is the name of the German holding company that has acquired what was once Europe’s largest bicycle manufacturer. From 1 October on MBB Gelma, which is also active in the electronics and software business, will take over all of Kynast’s […]

QUAKENBRUCK, Germany (9 August 2000) — Kynast AG has found a new investor. MBB Gelma is the name of the German holding company that has acquired what was once Europe’s largest bicycle manufacturer. From 1 October on MBB Gelma, which is also active in the electronics and software business, will take over all of Kynast’s assets. Kynast will continue as a GmbH. As a daughter company of MBB Gelma, the German manufacturer will continue to produce not only bicycles but also its other activities, including lawn mowers and garden furniture. Less certain is what will happen with all of the debts accrued by the former Kynast AG. At the time of publication the company managers were not available for comment. In a letter sent out at the end of July, the curators responsible for Kynast during its suspension of payments period stated that in the past six months Kynast has undergone a successful restructuring. “Increased productivity made it possible to reach a striking reduction of costs. Next to that we will devote a lot of effort in putting innovative products on the market and improving the service to our customers.” (JO)

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