Sachs FMT Files For Dutch Union Bankruptcy

NEURENBERG, Germany (October 23) – Sachs Fahrzeug- und Motorentechnik GmbH has filed for the bankruptcy of bicycle manufacturer Union at a court in The Netherlands. According to Sachs FMT President Dr. Oliver Schnorr, the bankruptcy filing is based on receivables to be paid by Union to Sachs for a total amount of DEM 1.1 million