All Corporate articles – Page 35
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News briefsStorck Bicycle and Cycling Friends take off in South Africa
Together with South African cycling tour operator Cycling Friends, German premium bicycle supplier Storck Bicycle opened the Storck Studio Cycling Friends in April. The man behind the tour operator (www.cycling-friends.com) is Stefan Lohwasser, the father of Storck Bicycle’s managing director, Dr. Todor Lohwasser. Stefan Lohwasser joined Storck as a shareholder ...
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ArticleMavic Group 2021 overview includes clear roadmap for the future
After last year’s insolvency of French bicycle component manufacturer Mavic SAS and its acquisition by Bourrelier Group, things remained quiet at first, at least on the surface. Now, at the unveiling of its latest product line on April 24, the newly formed Mavic Group gave a closer look at its ...
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ArticleKTM Fahrrad announces several strategic investments
Austria’s leading bicycle manufacturer, KTM Fahrrad, is considered one of the European pedelec pioneers and the largest location for electric mobility in its home country. For this purpose, the domestic market leader now even self-generates electricity. To ensure high product quality under the “Made in Austria” seal, all investments are ...
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News briefs
Anta’s controlling shareholder plans to divest a 3.3% stake in the company
Anta International Group Holdings has agreed to sell a stake of approximately 3.26 percent in Anta Sports Products, of which it is the controlling shareholder, according to a company announcement dated April 21. The sale of 88 million shares in the company for HK$11.57 billion (€1.24bn-$1.49bn) will reduce its direct ...
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News briefs
WeSports acquires D2C bike brand Rawbike
WeSports, a Stockholm-based group of individual sports, outdoor and mobility companies that operates online as well as physical stores and product brands, has completed the acquisition of Rawbike Scandinavia AB, a Swedish micro-mobility pioneer. The acquisition further strengthens WeSports’ presence within the e-mobility segment and will support Rawbike in its’ ...
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Article
Moody’s upgrades outlook for Amer Sports
Providing some interesting figures on Amer Sports’ latest performance and some interesting projections, Moody’s has changed its outlook for the company from negative to stable. However, it maintained an overall B3 corporate rating on Amer’s debt, feeling that its credit metrics will remain weak over the next 12 to 18 ...
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ArticleTwo new RTE bike factories, new target groups
In addition to the foundation of RTE Poland, previously communicated in our sister publication SGI Europe, the bicycle manufacturer RTE is also expanding its activities at its headquarters in Portugal. A new e-bike factory is already in the final stages. The new factory, which will operate under the company name ...
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News briefs
Chamatex acquires Toptex Cube
Chamatex, the French textile manufacturer based in the Ardèche department, has become a majority shareholder in Toptex3 (Toptex Cube), another French firm specializing in the production of technical clothing and luggage for the sports, luxury and health sectors through innovative assembly processes. Toptex Cube was founded in 2014 by Philippe ...
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News briefs
Johnson Outdoors CEO ranked in Forbes’ World’s Billionaires List
Helen Johnson-Leipold, the chairwoman and CEO of Johnson Outdoors, took the 831st position in the 2021 Forbes’ World’s Billionaires List with a net worth of $3.6 billion, up from $3.3 billion in 2020. Johnson-Leipold has been running the company since 1999. She is also the chairwoman of the Johnson Financial ...
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News briefsChildren’s bike manufacturer Woom moves assembly to Poland
After a group of investors acquired just under a third of the company shares in children’s and youth bicycle supplier Woom in the fourth quarter of 2020, the Austrians say the investment will be used, among other things, for near-market assembly. Since the beginning of the year, the assembly of ...
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ArticleFormer TNF innovation expert becomes CEO of new company to commercialize advanced textiles from Stanford Univ. lab
EEnotech, a California clean tech foundry, has unveiled LifeLabs™, a new company dedicated to commercializing textile patents from Stanford University’s advanced materials lab. Founded by Professor Yi Cui, director of Stanford University’s Precourt Institute for Energy and a 15-year veteran of Stanford’s Department of Materials Science and Engineering, and Meng ...
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News briefsKirschner Fahrradmanufaktur launches third bike brand
This season, the German premium bicycle supplier A.&A. Kirschner Fahrradmanufaktur is rolling out a third brand. In addition to Falkenjagd, which specializes in titanium frames, and Rennstahl, which specializes in steel frames, there is now a third premium brand, Parapera. This one relies on carbon frames for the comparatively young ...
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News briefsCarbon specialist REIN4CED receives further financial boost
REIN4CED, a specialist in lightweight fiber-reinforced composites, has successfully completed its €7 million Series B capital increase led by European venture capital firm Capricorn Partners NV. This capital injection is intended to support the Belgian carbon expert on its ambitious path “to become the leading supplier of lightweight, strong and ...
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News briefs
Woolpower opens new production facility in its hometown of Östersund
According to Swedish industry magazine Sportfack, Woolpower is currently completing the largest investment in its company history with a new 10,000-square-meter factory in Östersund in the Jämtland region. The completely new production facility will be twice the size of the previous one. “We are going against the tide in keeping ...
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ArticleVF’s new fulfillment center in the U.K. begins operations
VF Corp., through its local subsidiary VF Northern Europe Limited, has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and apparel industry.” ...
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News briefs
Lenzing transfers shares in Hygiene Austria to Palmers
After weeks of confusion over allegations against Hygiene Austria, Austrian fiber producer Lenzing has now announced it will divest its shares and transfer them to partner Palmers Textil “to ensure the sound and continuing existence” of the company. Hygiene Austria, a producer of protective masks launched as a joint venture ...
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ArticleInvestor acquires majority stake in Elastic Interface maker Cytech
With an initial investment from its private equity fund PM&Partners III Fund, Italian private equity firm PM&Partners SGR has joined Cytech (aka Cyctech Group aka Cypad Group) as a majority shareholder. The investor intends to support the group in its ambitious development plans. The management team, which will continue to ...
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News briefsSteelworks by Thyssenkrupp ceases innovative steel frame project
Five years ago, a group of enthusiastic road-biking employees at Thyssenkrupp wondered what would be possible today with a road bike made of steel. This idea gave rise to the steel giant offshoot Steelworks by Thyssenkrupp. The goal was to “bring all the advantages of steel to a road bike ...
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ArticleZweirad Union unveils production plan for Sangerhausen factory
Following the takeover of insolvent German bicycle manufacturer Sachsenring Bike Manufaktur in mid-February, the new owner, the German Zweirad Union E-Mobility und Produktion, has now communicated the first roadmap and outlines for future market-oriented bicycle production in the Sangerhausen plant. Behind the newly founded Zweirad Union E-Mobility stands an unnamed ...
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ArticleMTB cycletech manufacturer Velobaze calls it quits
On March 25, partners, dealers and suppliers of Swiss MTB Cycletech producer Velobaze received the news that the manufacturer’s business operations “will be discontinued with immediate effect due to the current economic situation.” According to the Velobaze board of directors, this step had to be taken despite significant financial investment ...
