Industry

MV Agusta for sale - boss speaks out

Harley President, Matt Levatich, speaks on sale of iconic Italian brand

FOLLOWING YESTERDAY'S shock announcement that Harley-Davidson is to axe subsidiary company Buell, the Milwaukee-based manufacturer has announced plans to sell MV Agusta.

Speaking on the move to sell the iconic Italian brand, Harley-Davidson President Matt Levatich said MV Agusta was “well positioned for the future” as a buyer is sought for the Italian subsidiary.

“This decision was not made lightly. MV Agusta is a great company with a proud heritage and brand, high-quality exciting products, and a passionate team with whom we have achieved a great deal over the past 14 months,” says Levatich, former president and managing director of MV Agusta.

“Our objective in acquiring MV Agusta last year was primarily to expand our presence in Europe, and was a recognition of MV Agusta’s proud legacy. While growth in Europe and other global markets remains highly important to us, we believe that focusing our efforts on the Harley-Davidson brand is the optimal path to sustainable growth,” says Levatich.

MV Agusta was bought by Harley-Davidson in August 2008 for approximately 70 million euros (£55 million), which included the existing bank debt for approximately 45 million euros (£31 million).

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