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Trade Union Announces Bleak Future for Kynast

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OUAKENBRUECK, Germany (September 10) – The future for Kynast, at one time the largest bicycle manufacturer in Europe, looks ever more bleak. According to a report in the Osnabrücker Zeitung, Trade union spokesmen said yesterday that much to their surprise the bike division of the company has no clear perspectives. The Kynast Steel division (supplier […]

OUAKENBRUECK, Germany (September 10) – The future for Kynast, at one time the largest bicycle manufacturer in Europe, looks ever more bleak. According to a report in the Osnabrücker Zeitung, Trade union spokesmen said yesterday that much to their surprise the bike division of the company has no clear perspectives. The Kynast Steel division (supplier of tubing to the automotive industry) will continue in a slimmed down form until the end of the year. In 1999 Kynast made it’s first plea for bankruptcy – the company was subsequently bought by MBB Capital who seemed to be leading the company out of trouble – as it turns out they did not succeed in doing just that. (MH)

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