Posts tagged as mifa

  • Monday, August 18th 2014

    Hero Cycles plays big card in the Mifa gamble

    by Markus Huber

    Time is running out for major German bicycle manufacturer Mifa, but frequent rumors continue to suggest that rescue is about to arrive at the last minute. As reported, the creditors of the beleaguered company have granted a period until Aug. 25 to postpone interest payments which were already due last week. The German magazine Wirtschaftswoche claims to now have found out […]

  • Monday, August 11th 2014

    Creditors give Mifa more time to restructure

    by Markus Huber

    On Monday, One Square Advisory, the consultancy firm representing the interests of Mifa’s creditors, granted the troubled big German manufacturer of bicycles more time to pay interest on its loan. Payment was due this Tuesday, but the creditors agreed that Mifa needs more time to restructure its debts. The interest payment stands at €1.9 million. Nonetheless, time is of […]

  • Wednesday, July 23rd 2014

    Creditors secure Mifa’s future – for now

    by Markus Huber

    Today, Mitteldeutsche Fahrradwerke (Mifa), Germany’s largest bicycle manufacturer, reached a critical agreement with its creditors to find a medium and long term solution for the restructuring of its finances. The creditors agreed to remove all their mandatory rights to negotiate a financial settlement.  Today’s meeting with the supervisory board, the management and the creditors enlisted the help […]

  • Tuesday, May 20th 2014

    Mifa: Hero Cycles rides to the rescue but calls for commitment from creditors

    by Markus Huber

    As expected, Hero Cycles, India’s largest bicycle manufacturer, has ridden to the rescue of its troubled German counterpart, Mitteldeutsche Fahrradwerke (Mifa). Through its subsidiary OPM Global B.V., it will buy shares worth €15 million. The deal entails a capital increase of 10 percent at Mifa. Additionally, OPM has the option to acquire shares from current stakeholders in […]

  • Thursday, May 15th 2014

    Mifa denies Indian majority takeover

    by Markus Huber

    Mifa (Mitteldeutsche Fahrradwerke), Germany’s largest bicycle manufacturer, has denied speculations of a possible intervention by India’s Hero Cycles, which would secure the control of Mifa by the largest bike producer in India. 

  • Thursday, April 17th 2014

    Mifa finds political solution to ride out of trouble

    by Markus Huber

    As reported on Monday, a public bail-out for troubled Mitteldeutsche Fahrradwerke, Germany’s largest bicycle manufacturer, was likely to come to Mifa’s rescue. At that point, the council of Mansfeld-Südharz district in Saxony-Anhalt, declined to give further information on how they would step in. It has now been announced that the district plans to buy one […]

  • Monday, April 14th 2014

    Troubled Mifa may receive public help to overcome crisis

    by Markus Huber

    Mitteldeutsche Fahrradwerke (Mifa) has been signaled conditional financial support to overcome its current financial troubles. In an extra-ordinary meeting, the council of Mansfeld-Südharz, the German district where the bicycle manufacturer is based, voted with a large majority for financial support on condition that certain scenarios might occur. Further details of the decision have not been […]

  • Thursday, March 20th 2014

    Mifa issues profit warning and expands executive board; Indian company may step in

    by Markus Huber

    Mifa, Germany’s largest bicycle manufacturer, has appointed Hans-Peter Barth as the latest  member of its executive board. He will be responsible for finances and operations. Barth is an auditor and management consultant who has held various positions in auditing companies. The position is new, and Barth will additionally take over the duties of the only […]

  • Friday, December 20th 2013

    Mifa seals strategic alliance with Cycleurope

    by Markus Huber

    Mifa, Germany’s largest manufacturer of bicycles, and Cycleurope, the Swedish bike producer have agreed to form a strategic alliance. Both companies will cooperate in the fields of distribution and marketing. The move is set to fill Mifa’s manufacturing capacities, notably in the sector of e-bikes. Cycleurope confirms that it sees Mifa’s factory as one of […]