Thursday, August 14, 2003
QUAKENBRUCK, Germany (July 30) - Next Friday ZEG will decide about the future of German bike maker Kynast which filed for insolvency July 17. August 1 the Kynast receiver Dr. Stephan Thiemann from Münster will meet, as it is called in a local newspaper: "A big Kynast customer in Cologne." The German dealer cooperative ZEG, which is already for years and years one of Kynast's biggest customers, is located in Cologne, Germany.
With regard to the insolvency procedures; Kynast's banks have already agreed upon the continuation of daughter company Kynast Steel GmbH which is foremost a supplier of the car industry. For the much bigger bike manufacturing facility and its 340 employees receiver Thiemann is still looking for solutions to end the insolvency. (JO)
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