Is Bbs Out of Business

The German company BBS Kraftfahrzeugtechnik has filed for bankruptcy for the third time in its history, although for the moment it continues as usual insolvency does not mean that it is bankrupt, it is only a debt protection. It might make sense for them to do so, considering the amount of branding and marketing that already exists for BBS in the wild, from video games to stickers on cars on the road. They could also keep the business relationship between “BBS” and its retailers intact so that they can continue to order the same wheels at the same prices as they have always been. I`ve been testing cars and writing about the automotive industry for over 25 years. My career began in daily newspapers and evolved into the writing of two automotive magazines. I have been based in Italy as a freelancer for over a decade, covering the European automotive sector, with a focus on product testing and product development for readers around the world. I judge the good and the bad in cars because they perform their intended functions at their prices for their target customers compared to all their competitors. I don`t have short or long positions in the automotive industry, mainly because it could only compromise the integrity of my work, so my written positions are a compendium of available data, mixed with about four full product cycles. The idea now with bankruptcy filing is to buy time while BBS restructures its business and the owner wants to sell the assets to another group. Going bankrupt 3 or 4 times is a standard business procedure for companies like local amusement parks, which end up stabilizing on a balanced business model after unfortunately loosening the portfolios of many investors and suppliers.

I`ve been testing cars and writing about the automotive industry for over 25 years. My career started in daily newspapers and developed into writing two automobiles That`s exactly why I said, I hope it`s not a closure for them, it could be very good. In 1972, BBS pioneered the development of a three-piece road bike, a revolution in motorsport design. [3] In 1975, BBS developed the popular cross-ray design and developed the counter-pressure process. In 1990, BBS entered into a technical cooperation agreement with ASA, a Korean company that started wheel production. In 1993, BBS merged the gap between its three-part forged wheel and one-piece molded wheel with the two-part design of the RSII.[10] BBS developed a magnesium forged wheel in 1994 for use in motorsport, particularly in Formula 1, which was more than 20% lighter than standard cast aluminum wheels. In 1995, BBS developed the first one-piece flow-shaped molded wheel using FEM analysis. The first hollow spoked wheel was developed in 2000 by BBS in cooperation with Porsche and Kuka. [9] BBS, which made every racing and sports car fan figurehead in the 1990s, has led some of the world`s most famous drivers from Le Mans to Indianapolis to Formula 1 to victory.

The company employs approximately 1,200 people worldwide (2018). [1] BBS is listed on the Frankfurt Stock Exchange (symbol: BKS3) with a market capitalization of €8.15 million[2] BBS has taken a different direction for the Lexus ISF wheel. Photo by Spencer Weiner/Los. [+] Angeles Times via Getty Images Production is underway despite BBS`s recent financial problems, with the company assuring that the supply of wheels will be maintained. Even before this development, BBS had “already initiated a vast turnaround strategy”. The multi-stage forging process used by BBS wheels is complex in that it uses multiple compression stages at a pressure of 8,000 to 10,000 tons to compact the wheel blank while heating it to over 750°F (400°C) between stages. With this method, an ideal material structure with high density and strength is achieved, which allows for light and thin milling. [11] BBS GmbH, the German wheel manufacturer responsible for supplying wheels for some of the world`s most legendary automakers, filed for bankruptcy on Monday. They were the spare wheel of choice for generations of performance car owners and made from the poster wheels for all racing and sports car fans in the 1990s. It once dominated the wheels of high-end performance cars, including the Ferrari F40, Lexus IS-F and a myriad of Porsche. BBS went public in May 1987 and continues to be traded on the Frankfurt Stock Exchange.

In 2007, BBS went bankrupt and was taken over by the Belgian company Punch International. [4] Since 1 July 2015, the South Korean company Nice Corp has been the majority shareholder. [5] BBS automotive GmbH filed for bankruptcy in 2020, but was acquired by KW automotive GmbH, a multinational chassis parts company, in March 2021. [6] [7] [8] Very different from Chapter 7, where the company sells assets and is often gone forever (like Toys R Us). BBS wheels can be found in road vehicles from Ferrari, Porsche, Mercedes-Benz, Audi, BMW, Volkswagen, Toyota, Volvo, Lexus, Jaguar, Infiniti, Rolls-Royce and Subaru. The Japanese company Washibeam Co., Ltd. manufactures the BBS F1 magnesium wheel and all racing aluminum wheels. [16] As BBS is a customer of Washibeam, production of the wheel will not cease if BBS goes bankrupt.

[17] In addition, IG Metall is negotiating a restructuring collective agreement with Klaus Wohlfarth (KW Automotive), the purchaser of BBS. The aim is to regulate the financial contribution of the remaining employees to the restructuring of BBS. “A refusal by IG Metall to negotiate a restructuring collective agreement could mean the end of BBS, as this is a clear condition of purchase. The acquisition of BBS by the KW Group is the only and last chance for BBS to become a successful company again. Production will continue at both Schiltach and Herbolzheim sites. Other interested parties only wanted the BBS brand to produce wheels with this name elsewhere in the world. That would certainly have meant the end for both sites,” says Prutscher. This is not new territory for BBS, which also filed for bankruptcy in 2007 before being rescued by Belgium`s Punch International, then filed for bankruptcy again in 2011 before being taken over by South Korea`s Nice Corp. In a press release (translated by Google), the company blamed “the sudden omission of confirmed payments,” adding that “the situation has continued to deteriorate due to the corona lockdown, which has led to a temporary closure of production at both BBS plants.” “However, the key message we want to convey to you is that BBS production continues – the supply of all our OE and AM customers with BBS wheels is assured! Known for its invention of three-piece racing motorcycles and cross-spoke patterns, BBS GmbH today filed for bankruptcy on its website, describing it as a “necessary step to avoid imminent bankruptcy.” The cross-spoke design (pictured), which superficially resembles a spoked wheel and was common in sports cars from the 1980s to the early 1990s. This design is lightweight compared to many other styles of the time. One of the most popular wheels produced by BBS was the three-piece RS, released in 1977,[18] which became a popular aftermarket wheel and was often replicated by other manufacturers.