A Slovenian company specialising in electric bicycles has acquired Rog, the hallowed bicycle brand, for around EUR 45,000, business daily Finance reported on Wednesday.
Fura from Dobrovnik in NE Slovenia acquired the Slovenian brand at an auction held as part of bankruptcy proceedings at Notik&V, which acquired the Rog brand in 2009.
The Ljubljana-based company paid EUR 80,000 six years ago for the brand name which is synonymous in Slovenia with bicycles.
Established in the early 1950s, Rog made bicycles touted for their reliability and sturdiness, but like many Slovenian industrial giants lost most of its market when Yugoslavia fell apart.
Following a slow decline, it finally went bust in 2005, leaving behind a legacy of popular bicycle models, including the quirky pony express folding bike and a line of city bikes and road racers.
Restored Rog bicycles are still a hit in Slovenia today, which is why the auction generated great interest, with over 20 bidders turning up, according to Finance.
Source: TheSloveniaTimes
