All Corporate articles – Page 8
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ArticleGerman bicycle tire supplier relocates production to Vietnam
Schwalbe manufacturer Ralf Bohle GmbH is strategically realigning its production: All bicycle tires and inner tubes will be produced exclusively in Vietnam in the future. Only mold making, mixing operations, R&D and administration will remain at the long-standing Schwalbe production site in Indonesia. The move is justified by the development ...
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News briefsTrusTrace completes $24m growth investment
Stockholm, Sweden, and Coimbatore, India-based SaaS company TrusTrace, which specializes in supply chain traceability and regulatory compliance, closed a $24 million investment round led by Circularity Capital, an investor specializing in companies advancing the circular economy, with participation from existing investors Industrifonden and Fairpoint Capital. According to Shameek Ghosh, CEO ...
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News briefsPolygiene’s Addmaster returns to its roots
In response to customer feedback, antimicrobial technology label Addmaster, part of the Polygiene Group, is reverting to its original name, Addmaster, effective Jan. 18, 2024. As part of this response to customer feedback, the company has launched a new standalone website. While it remains an integrated part of the Polygiene ...
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ArticleCrow Bicycles bolsters int'l DTC with DACH area manager and physical presence in Germany
Madrid-based ultralight e-bike brand Crow Bicycles, founded in 2020 and launched in 2021, announced the hiring of Gert-Jan Van Wijk as Market Manager for the German, Swiss and Austrian (DACH) markets. In these countries, Van Wijk will lead the company’s commercial strategy from Feb. 1 to consolidate the brand at ...
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News briefsMajority shareholder Youngone grants short-term loan to Scott Sports Group
The South Korean manufacturer of outdoor clothing and outdoor products Youngone Corporation is granting its Swiss bicycle and winter sports affiliate Scott Sports SA a temporary loan of 150 million Swiss francs (€160.6m). Following the purchase of a 20 percent stake in its long-term business partner Scott Sports Group, which ...
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ArticleMondraker opens US branch in Colorado
Spanish premium off-road bicycle brand Mondraker announced the opening of a subsidiary in the USA at the beginning of the year. The new Mondraker-USA office is located in Boulder, Colorado. The official inauguration of the new offices and warehouse, as well as the customer and technical service areas, will be ...
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ArticleIcletta returns DACH distribution and assembly to Ice Trikes
Over 15 years ago, the German company Icletta GmbH began exclusively distributing the British recumbent trike manufacturer Inspired Cycle Engineering (Ice Trikes) in the DACH region. The two companies have now jointly decided to gradually relocate on-site assembly, which Icletta previously carried out at its headquarters in Weiterstadt, Germany, to ...
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News briefsRenewcell to lay off 30 employees
In November 2023, the Swedish textile recycler Renewcell announced that it had been forced to conduct a strategic review due to financial strains and liquidity problems as a result of declining sales volumes. The company has now completed the restructuring, which has led to the dismissal of 30 employees, i.e., ...
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News briefsDaiwa USA moves to larger facility in California
The fishing tackle brand Daiwa has moved into a new office and warehouse complex in Foothill Ranch, California. The new location, which features 20 truck bays dedicated to inbound and outbound shipping, doubles the space and capacity to ship products. The added square footage also enables Daiwa to have a ...
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News briefsNewell restructures again
Newell Brands, the parent of Marmot, Coleman, Contigo and other outdoor brands, will spend up to $90 million as part of a renewed reorganization that will cut about 7 percent of its office jobs, with most of the costs and reductions occurring by the end of the year. The reorganization ...
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ArticleWolverine Worldwide on FY course, Merrell to grow beyond trail
Wolverine World Wide, Inc. provided an update on its preliminary, unaudited financial results for FY 2023 and its ongoing transformation efforts ahead of its presentation at the 2024 ICR Conference this week. “We’re executing the stabilization phase of our strategic transformation with tremendous pace while redesigning Wolverine Worldwide for the ...
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News briefsRenewcell ends 2023 with slight upward trend
After a rather difficult year overall, Swedish textile recycling company Renewcell reported better, albeit not outstanding, sales for last month (Dec. 1-31, 2023), although it continues to struggle with the lack of product demand. The company said it produced about 818 tons of prime-quality dissolving pulp. About 1,000 metric tons ...
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News briefsAmer files registration statement with SEC for projected IPO
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, 2024, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The ...
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ArticleCreditors approve Advanced Sports’ restructuring plan
After the German sales company Advanced Sports GmbH (aka Advanced Sports Europe) slipped into self-administered insolvency on April 1, 2023, due to the challenging market and consumer sentiment, it was reported in mid-September that all parties involved in the proceedings (while business operations continued) were confident that the restructuring process ...
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News briefsAluula announces short-term loan
Canadian materials technology company Aluula Composites Inc. has announced that its wholly owned subsidiary Aluula Composites Canada Inc. has obtained a $1,000,000 term loan from a non-contracting party. The loan bears interest at 12 percent per annum and is due and payable on July 1, 2024. The company intends to ...
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News briefsUSWE enters liquidity guarantee agreement with Pareto Securities
USWE Sports AB, the Swedish parent company of USWE, Void Cycling and Giant Loop, has entered into a liquidity guarantee agreement with Oslo-based Pareto Securities AB. Pareto Securities will assume the function of liquidity provider on Jan. 2, 2024. The obligation takes place within the framework of Nasdaq First North ...
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News briefsInfinited Fiber starts cooperation negotiations with employees
Finland-based textile technology specialist Infinited Fiber said it started cooperation negotiations at the end of December concerning the personnel of the parent company Infinited Fiber Company Oy and its subsidiary Infinited Fiber Kemi Oy. The aim of the talks is to find solutions to adapt the company’s cost structure and ...
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News briefsBleed enters insolvency
Despite intensive efforts, Bleed has not been able to find a solution for its continuation to date, the company announced in a newsletter issued shortly after Christmas. As a result, the sustainable outdoor brand from southern Germany will be insolvent from January 2024. Since the team around owner Michael Spitzbarth ...
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ArticleSuccessful reorganization and realignment of Pierer subsidiary Syntace
Syntace GmbH, the umbrella company for the Syntace brand, a manufacturer of high-quality bicycle components, and Liteville, a manufacturer of high-end bikes, primarily in the mountain bike segment, has successfully completed a comprehensive restructuring since Pierer Industrie AG (PIAG) took over the majority rights in 2022. The ...
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News briefsRenewcell secures €9m capital injection for short-term liquidity
Swedish textile-to-textile recycling company Renewcell has entered into two short-term loans with its main shareholders, H&M Fashion AB and Girincubator AB, and – through waivers and amendments to the company’s existing financial agreements – with its existing lenders BNP Paribas, European Investment Bank (EIB), Nordea Bank Abp and AB Svensk ...
