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SACHS FMT: Chapter 11

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NUERNBERG, Germany – Sachs Fahrzeuge und Motorentechnik GmbH has applied for chapter 11 protection at a German court. The German producer of motorized two-wheelers has been in dire straits for some time. This led to their take over last March by New Seperior Ltd, part of the Chinese investors group, New Investors Ltd. According to inside sources, the root of the financial troubles lies in old pension obligations.

SACHS FMT: Chapter 11

NUERNBERG, Germany – ‘Sachs Fahrzeuge und Motorentechnik GmbH’ has applied for chapter 11 protection at a German court. The German producer of motorized two-wheelers has been in dire straits for some time. This led to their take over last March by New Seperior Ltd, part of the Chinese investors group, New Investors Ltd. According to inside sources, the root of the financial troubles lies in old pension obligations.
Next to producing their own machines, Sachs was the importer of brands like SYM and Voxan in Germany. SYM has now decided to take distribution in their own hands, meaning Sachs has lost another much-needed source of income. Volkert Boehm has been appointed curator, and he will go into the possibility of re-starting Sachs, with director Corrado Savazzi. According to Frans Brittijn, Sachs importer for the Netherlands, the curator has a positive view: "This week production of Saxonettes and Electras will be starting again, all be it on a limited basis."

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