996 Turbo / GT2Turbo discussion on previous model 2000-2004 Porsche 911 Twin Turbo and 911 GT2. Sponsored By Vivid Racing
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If that's the case you and me are going to drive off the GG bridge with our BBS collections!
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Alex "Sharky" Ross
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The Porsche Performance Center for EVOMS, TechArt, HRE, Tubi, Cargraphic, RSS & Brembo
Phone: 510-651-0300
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My Project Porsches:
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Not Lexani, maybe GFG/Giovanna, anyone wants LMs in 24s?
Oh yeah I can't wait to see 24 hour Le mans (change it to lemons I guess) with spinners and floaters!
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Alex "Sharky" Ross
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The Porsche Performance Center for EVOMS, TechArt, HRE, Tubi, Cargraphic, RSS & Brembo
Phone: 510-651-0300
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My Project Porsches:
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We are following this and I promise to provide more info as I get it. A few things to keep in mind:
It should be noted that this is not a closing or going out of business type of bankruptcy but instead a restructuring. Also BBS America is a Delaware Corp. and is funded by US banks. In addition BBS Japan is a completely separate company that simply produces BBS wheels by license.
We expect more info today. Stay tuned.
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877-522-8473 ext. 643
574-287-2345 ext. 643
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The Porsche Performance Center for EVOMS, TechArt, HRE, Tubi, Cargraphic, RSS & Brembo
Phone: 510-651-0300
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My Project Porsches:
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It is just a re-structuring of the Company Nothing More.. BBS America is its own company and will not be effected by this..
BBS Europe has been run like a mom and pop shop for a long time this will only help restructure the company and make them more competitive in the market place..
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Fabryce
Global Motorsports Group
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Porsche-Audi- Ferrari- Lamborghini Performance Tuning-Motorsport- Factory Service North America's Largest Moton distributor.
GIAC Premier Dealer
SCCA Pro Racing Speed GT Team #14 ,#4,#05,#45,997 WC-GT3 Cup
Winner 2009 Long Beach Grand Prix #14 Winner 2009 Watkins Glen Grand Prix #4
Inhouse 2wd and 4wd dyno with test cell
Authorized Partner and Distributor for: Champion-Sparco- BBS Motorsport- Brembo- AP- HRE -Michelin- Tubi- Eibach - StopTech-
I confirmed the same info that Damon and Fabryce have stated. BBS AG Germany has applied for a debt restucturing (Ch. 13). This does not effect BBS Japan or BBS America who are both doing very well financially.
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Founding member - The UNF*CKWITHABLES
First, BBS AG is going through a restructuring process, they are not going out of business. Has anyone flown Delta Air lines recently??… they have been in Chapter 11 restructuring for almost 1 ½ years and they are recovering quite well.
BBS is still producing wheels in Germany and we plan to keep doing so.
There is a partner company to BBS in Japan called "Washi Beam", they produce forged wheels for Subaru, Mitsubishi, Aston Martin, Bentley, Lexus, Mazda and a few others. The forged magnesium wheels used on the Porsche Carrera GT's begin life in Japan and the forgings are sent to BBS in Germany to be finished. They also produce the forgings used to produce F1, Indy, ALMS and racing wheels for many other race programs around the world. Washi Beam is 100% independent of BBS Germany and Washi Beam is not involved in ANY bank or financial related issues. BBS Germany and Washi Beam started working together back in 1983... Remember the orginal 3 piece RS wheel? Washi Beam produced all of the die-forged wheel centers for these wheels. The BBS RSGT, RGR, LM and RE wheels are all produced by Washi Beam in Japan.
BBS Germany will continue with the restructuring process, Washi Beam will continue to make the highest level die-forged wheels in the world and BBS of America will be here to service customers in North America.
I took at look at their CY05 annual report and their CY06 half year report. This was waiting to happen. Flat top line for years, commodity prices sykrocketting and squeezing margins, cash level plumetting, 90 days of inventories, 60 days of accounts receivables but suppliers paid at 30 days, horrendous cash conversion cycle ...
With their brand recognition, a turnaround should be possible, but without knowing much about the company, it seems that they have been on a collision course for a while.
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Guys, Radtech was who I thought it was, and one of the top 3 running BBS in the US. He will provide another statement to us in the next few days and I promise to post it as soon as I get it.
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877-522-8473 ext. 643
574-287-2345 ext. 643
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