The retreading business belonging to insolvent German tyre company the Reifen Ihle Group now has a new owner. The sales contract was signed late last Friday, and follows the divestment of the firm’s 12 Point S tyre retail centres to regional retailer Reifen Müller at the end of October. R-I-G Technische Produkte GmbH has been acquired by Frankfurt am Main-based holding company Prolimity Capital Partners and will now be operated under a new entity, Rigdon GmbH.
The Romania’s Competition Council has approved the takeover of Reifen Ihle’s Romanian operation – Ihle Anvelope by Michelin. The transaction forms of the previously reported earlier deal in which Michelin took over the German operation (Reifen Ihle Baden Baden) and its international operations. According a Romania Insider report dated 25 November, which carried details of […]
A week ago, Tyres & Accessories reported that German tyre firm the Reifen Ihle Group faced being broken up for sale some eight months after filing for insolvency. It has now been officially confirmed that the 12 Reifen Ihle outlets, which operate as part of the German Point S network, have been sold to Reifen Müller KG, a tyre business that operates 30 outlets in central Germany. Klaus Müller told our sister publication Neue Reifenzeitung that the 12 Reifen Ihle outlets “pass perfectly” to Reifen Müller. But while the outlets’ future is now secure, their days as part of the Point S network are numbered.
Insolvent German tyre industry company the Reifen Ihle Group will evidently be broken up for sale. According to information from our sister publication Neue Reifenzeitung, despite attempts from insolvency administrator Prof. Dr. Martin Hörmann to sell the four-division group – which includes the Point S operation Reifen Ihle Service, a tyre wholesale operation, retreader R-I-G Technische Produkte and casing dealer R-I-G Karkassen – these efforts have failed to find a buyer.
Speculation suggested that Michelin quietly prepared for its acquisition of German tyre wholesaler Reifen Ihle Baden-Baden AG over a number of years, yet evidence has emerged that shows the tyre maker’s management team wasn’t as visionary as thought when planning this particular transaction. And it’s also become evident that Ihle’s description of itself as “Europe’s top-performing wholesaler for tyres, rims and complete wheel sets” hasn’t reflected reality for a long time now. Michelin’s purchase may now protect Ihle from further decline or even insolvency as since 2011, if not longer, Ihle has been in troubled waters and is, pending the consent of the German Federal Cartel Office, in need of rescue by Michelin before it sinks.
We’ve become accustomed to hearing reports of alleged copyright infringements related to tyre and, particularly, tread pattern design. Typically these involve products from Chinese manufacturers, however our German sister publication Neue Reifenzeitung has published news of a copyright infringement dispute that played out here in our part of the world – and ended with a ruling in favour of the alleged copy.
In late February, Germany’s largest retreader – the Günzburg, Bavaria-based Ihle Group – filed for insolvency. At the beginning of May, the local regional court (Neu-Ulm) commenced insolvency proceedings against the company after determining an inability to pay and over-indebtedness. The court has appointed lawyer Prof. Dr. Martin Hörmann liquidator for Reifen-Ihle GmbH while lawyer Alexander Reus is responsible for Reifen Ihle Service GmbH. The court has also appointed a creditors’ committee. Creditors will meet together on 25 June and, based on the liquidators’ report, decide how to go forward with the process.