Red RC » Industry

April 16, 2018

Kyosho bought by Japanese investment bank

Japanese business website nikkei.com has reported that long-established manufacturer Kyosho has recently been bought by the Shinsei investment bank. It is understood that the move also means greater internal restructures over at Kyosho, as the company ran into financial difficulties following decreasing domestic sales. Former Kyosho president Akihisa Suzuki is understood to have retired, but will stay on in an advisory role, with Katsumi Watanabe now taking over at the helm. We will bring you more information on the subject as it becomes available.

Source: Nikkei [nikkei.com] via Kentech

April 3, 2018

Hobbico continues as Horizon Hobby

Following a first article in The News-Gazette, a Champaign, Illinois based newspaper, Hobbico have announced that they will continue under the Horizon Hobby banner after a bankruptcy court judge approved Horizon Hobby’s purchase of Hobbico’s RC business. Hobbico declared bankruptcy in January 2018 and has initiated a sale process that sees the Great Planes and Tower Hobbies divisions, along with Axial and Arrma brands now being bought by Horizon Hobby. Hobbico employees must reapply for their jobs at Horizon Hobby before the purchase is completed this coming Friday. In a first statement Hobbico had the following to say:

[…] We are excited to share with you that the RC brands from Hobbico that you have come to rely on over the years will continue. The Bankruptcy Court has approved the sale of Hobbico’s RC business to Horizon Hobby, LLC. Horizon Hobby has been in business since 1985 and serves customers in the United States and around the World. Horizon Hobby also maintains a strong online presence and warmly welcomes Hobbico customers to its growing family. With this acquisition, Horizon Hobby looks to build upon Hobbico’s great reputation for providing quality RC products to customers across the country. […]

An official statement by Horizon Hobby is awaited after the sale closes.

Source: Hobbico [hobbico.com] & The News-Gazette [news-gazette.com]

March 29, 2018

Lautenbach Racing Products announced

Jürgen Lautenbach, founder of World-renown LRP electronic, has announced that the company will be going out of business effective March 31st 2018 following several month of trying to find an investor after filing bankruptcy last year. While thanking all of his business partner for 30 years of support, Jürgen took the time to announce his new company, Lautenbach Racing Products, that will starting business on April 3rd. More information will be announced soon and in the meantime, Jürgen Lautenbach had the following to say:

Thank you very much for the great support LRP electronic GmbH has received from you to this day. As is known, LRP electronic GmbH has to cease operations on March 31, 2018 after having been in the market for 30 years. At the same time, I am pleased to inform you that the newly founded Lautenbach Racing Products GmbH will start its work on April 03, 2018.

You can still reach us using the known telephone numbers and e-mail addresses. We plan to ship the first goods starting April 16, 2018. Lautenbach Racing Products GmbH is not a continuation company of LRP electronic GmbH, but a newly founded enterprise. It will operate with a modified business model adapted to today’s market requirements. We will inform you about this in detail as soon as possible.

I am looking forward to continuing to cooperate successfully with you in the Lautenbach Racing Products GmbH.

Jürgen E. Lautenbach

February 2, 2018

Bruno Coelho announces own brand

Capping off Day 1 of the Euro Touring Series in Germany with a TQ run in the opening qualifier, Bruno Coelho took the opportunity of this successful day to announce his own RC brand, aptly named Bruno. Rather than a product rebranding exercise, the factory Xray driver’s intention is to use the brand to develop a range of performance products based on his own racing experiences and the ongoing search to have the best possible race package in order to compete at the top level. A hugely versatile racer as highlighted by his impressive trio of title wins in the ETS, the Euro Offroad Series and the Euro Nitro Series last season, he intends to unveil the first of his products tomorrow. In the meantime the driver whose driving style has gained him a huge following around the world is directing people to the Bruno website to sign up for exclusive news, tips and videos regarding his product line.

Source: Bruno [brunorc.com]

January 22, 2018

LRP closes its doors

In what is a shock news, LRP have announced the closure of their business effective March 31st. The iconic manufacturer and distributor went into insolvency some time ago but the search for an investor did not had a positive outcome which now results in LRP going out of business soon. According to LRP’s own Jürgen Lautenbach he is planning to go ahead with the LRP brand with new structures in the future.

I regret to inform you that our promising investor process finally did not have a positive outcome, which results in the closure of LRP electronic GmbH on March 31st, 2018. Until then, business operations will continue normally with the existing workforce.

Read the announcement in full here

January 11, 2018

Hobbico files for bankruptcy

After month of rumour on social media and certain news sites over the health of Hobbico, the company announced on the 10th of January that they are filing for restructuring under Chapter 11 of the Bankruptcy Code and that they are pursuing a process to sell or restructure the company. Hobbico will continue to operate the business throughout the bankruptcy process. Numerous companies across a range of industries (automotive, airlines, etc.) use this type of filing as a tool to get costs under control, create stability and build platforms for growth. Hobbico intends to use the bankruptcy filing and a possible sale of the business to reduce their debt, restructure their liabilities, attract new investors and position the company for future growth. Hobbico carefully evaluated this vs. a number of other actions and concluded this was the best path forward.

Read the full statement here

November 1, 2017

Joe Pillars signs long term deal with Yokomo

Following the news earlier today that Joe Pillars had left his long time position at Kyosho, competing Japanese brand Yokomo have just announced the signing of Joe Pillars as US Team Manager. Joe will lead the brand’s charge into the US market by building and operating their race team as of today. Joe brings many successful years of Team Management skills to Yokomo and they are all very excited for the future. Joe had the following to say about the deal:

I would first like to thank Kyosho America for the past 11 years of working together. I would like to thank Aki, Futoshi, Mitsuo, Kanai, Derek, and everyone at Kyosho America for all there support and efforts during this time. I would also like to thank Jared Tebo for the opportunity to work with him during most of my time at Kyosho. Together we have accomplished a lot of great results including 1 x World Title, 3 x World TQ’s, 9 ROAR National Championships, as well countless other big race victories! Now moving forward, I would like to first thank Tom Yokobori and Minoru Aso for this great opportunity to work for and represent Yokomo here in the USA!

Continue reading his statement here

August 18, 2017

Hobbico to end Team Durango brand

Ongoing speculation about the destiny of the formerly very popular Team Durango brand has ended following a somewhat hidden statement on social media this week. In the past month Team Durango drivers had to cope with parts shortages and diminishing support, something that sort of found its beginning with the cancellation of all team activities for the 2015 season. Hobbico states that their ARRMA RTR brand, whose 1/8th electric buggies and trucks were the platform for Team Durango’s last generation of competition kits, is still alive and kicking with more to await from the proactive brand. Hobbico’s “official” statements reads like this:

Due to market conditions, the Team Durango product line has been discontinued and we will receive no further product shipments. (We do have some parts inventory remaining and available for a limited time.) We thank all Team Durango customers and team members for their dedication to Team Durango.

Source: Track13News [facebook.com]