BMW grabs Husky
By TMX Archives on 26th Jul 07
BMW Motorrad signed a contract last Thursday, July 19, to acquire Husqvarna Motorcycles from MV Agusta.
The President of MV Agusta Group, ClaudioCastiglioni, and Dr Herbert Diess, General Director of BMW Motorrad,signed the contract in Varese, Italy.
However, the contractual agreement will only comeinto full effect with the final approval of the EU cartel authorities.Both parties have agreed that the purchase price is to remainconfidential.
For the Italian motorcycle Group, the sale ofHusqvarna Motorcycles is a strategical step to concentrate all of itsresources in the development of MV Agusta brand, icon of style andperformance and Cagiva, historical brand in the low engine capacitysegment.
On signing of the agreement, the President ClaudioCastiglioni stated: ''This transaction has been carried out in order toexpand MV Agusta and Cagiva presence in the international marketsgiving more financial resources for new models development.''
He added: ''Husqvarna is steeped in tradition andone of the most famous motorcycle companies in the world with numerousracing victories including European and World titles, and underthe directions of BMW Motorrad, it will continue to express its fullpotential.''
BMW Motorrad plans to continue operating HusqvarnaMotorcycles as a separate enterprise. All development, sales andproduction activities, as well as the current workforce, will remain inplace at its present location in the region of Varese in northern Italy.
British Husqvarna importer Mike Carter isdelighted with the move: "As you will see from the release allHusqvarna activities, including R&D, production, sales activitiesetc are to remain in Italy and the distribution channels will remainthe same as now.
"It is great news for the brand and we very muchlook forward to the future under the management of BMW and the renewedconfidence, stability, and development of the brand; that they willbring to Husqvarna."