November 3 2006.

Germany's oldest motorcycle manufacturer has been rescued from insolvency by a Management buy out, which was signed today, 3rd November 2006.  
Sachs Fahrzeug- und Motorentechnik GmbH is the successor company of the Nuremberg-based Hercules Werke GmbH, which was established in 1886, making this year its 120th anniversary.
The initial insolvency proceedings, which were filed on 28 June 2006, were triggered by a huge pensions liability that the current management inherited from the massive Hercules bicycle works, which Sachs bought out in the 1960's. Fortunately the insolvency administrator not only enabled continued trading, but also put the Company in a position to develop new models, such as the stunning new XTC125, unveiled at the "Intermot" fair in Cologne in October.
The MBO secures the future of the Sachs brand and means that the dynamic management team behind such offbeat machines as the radical MadAss will be back in full control.  Business operations will continue from the same location as before. 
Keith Davies, Managing Director of 3X who distribute Sachs in the UK, is delighted by the announcement.  "This is the best news we could have hoped for. We have continued to support Sachs during this difficult time and they have maintained their excellent service levels.  We have just taken delivery of the latest 6-speed X-Road 125 and things are looking very positive for next year." 

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