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The Final Curtain for Kynast

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MAARSSEN, Netherlands (May 18) – After years of struggling to survive, now it is time to draw the final curtain on Kynast GmbH. On June 8th, the company’s remaining assets will go under the hammer. Some 1,000 items ranging from office equipment to CNC welding machines will be sold to raise money to settle outstanding […]

MAARSSEN, Netherlands (May 18) – After years of struggling to survive, now it is time to draw the final curtain on Kynast GmbH. On June 8th, the company’s remaining assets will go under the hammer. Some 1,000 items ranging from office equipment to CNC welding machines will be sold to raise money to settle outstanding affairs remaining from the firm’s insolvency. For those interested: viewing days are: June 7 & 8, while the actual sale takes place on June 8th, 11.30 AM at the Kynast premises, Artlandstrasse, Quakenbrück, Germany. A catalogue can be requested from www.dechow.de.
17 July 2003 Kynast filed again for insolvency. At that time 370 people were working at what was once the biggest bike maker in Europe. For many of them it was the second insolvency, after in 1999 the first one took place. At that time the German bike maker had a workforce of 1,000 people. After the takeover by MBB Gelma, 434 jobs were saved which was subsequently downed to 370. Kynast GmbH had a 2002 turnover of € 57 million. Receiver Dr. Stephan Thiemann from Münster was able to secure the continuation of daughter company Kynast Steel GmbH which is foremost a supplier of the car industry. His attempts to do the same with the bike part of the company failed. (MH)

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