Harley-Davidson Takes Over MV Agusta

You're reading Harley-Davidson Takes Over MV Agusta, posted on Friday, August 15th, 2008 at 2:02 pm in Harley-Davidson, News, on BrainBloggers at the Motorcycles blog. More after the jump.

Harley-Davidson and MV Agusta Group have signed a deal this week that is valued at $109 million. Harley-Davidson will now be taking over MV Agusta – which has been noticing a decrease in production this year that has seriously affected their sales and caused them to become overwhelmed with debt.

Part of Harley’s take-over involves the payment of some $70 million in MV Agusta’s outstanding debts. Harley-Davidson announced that Claudio Castiglioni, the current chairman of the group, which also includes Cagiva motorcycles, as well as chief designer Massimo Tamburini, will remain in their posts and the company will continue to operate out of its headquarters in Varese, Italy. However, Harley-Davidson intents to appoint a new management team for MV Agusta, including a new managing director.

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