In the years 1942/43, the Schweinfurt-based company ‘Fichtel & Sachs AG’ established a branch in Reichenbach im Vogtland for the production of bicycle hubs and gear systems. After the end of World War II, the plant was taken over by the Soviet joint-stock company Awtowelo. In 1952, it was transferred to public ownership, and in 1955 it became known as VEB RENAK. Until the end of the GDR, the factory gained a solid reputation across Europe for manufacturing bicycle hubs and gear mechanisms.
On July 1, RENAK was transformed into a GmbH (limited liability company). Following its sale by the Treuhand agency to a Chinese investor, production in Reichenbach was discontinued in 1993. On March 17, 1994, former employees founded a new company under the traditional name. In 1996, production was relocated to new facilities in Netzschkau, near Reichenbach. Since then, the original factory buildings from the 1940s have been left to deteriorate. A part of the property is still used as a car workshop.
