This is a Sachs-Huret New Success ARIS branded up as a Regina, to complete Regina’s America 1992 groupset. Bikepro claims that the name America 1992 is some kind of celebration of the founding of the European Single Market in 1992, although what exactly that has to do with America beats me. It's more likely that it is something to do with the 500th anniversary of Christopher Columbus' 'discovery' of the Americas - but I can’t really remember what the name was all about. However, I do remember that I had a freewheel from the groupset that was supplied in a wooden box hand carved by gnarly old Italian artisans. I hated the freewheel but loved the box.
These were well made, well designed derailleurs, although slightly less well finished than Shimano, and without the benefit of the excellent integration of the other parts of the groupset, such as chains and freewheels. The America has a ‘cable saver’ spring built into the mounting of the cable outer stop. It also has an interesting angular look.