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MV AGUSTA TO EXPAND THROUGH SALE OF HUSQVARNA MOTORCYCLES
The President of MV Agusta Group, Claudio Castiglioni, and Dr. Herbert Diess, General Director of BMW Motorrad, signed the contract on 19th July 2007 in Varese (Italy). The contractual agreement will come into full effect upon final approval of the EU cartel authorities. Both parties agreed that the purchase price is to remain confidential. For the Italian motorcycle Group, the sale of Husqvarna Motorcycles is a strategic step to concentrate all of its resources in the development of MV Agusta brand, icon of style and performance and Cagiva, historical brand in the low engine capacity segment. Upon the signing of the agreement, the President Claudio Castiglioni stated: “This transaction has been carried out in order to expand MV Agusta and Cagiva presence in the international markets having more financial resources for new models development, thanks also to the support of Banca Intesa Sanpaolo.” Claudio Castiglioni added: “Husqvarna is steeped in tradition and one of the most famous motorcycle companies in the world with numerous racing victories including European and World titles, and under the directions of BMW Motorrad it will continue to express its full potential.” BMW Motorrad plans to continue operating Husqvarna Motorcycles as a separate enterprise. All development, sales and production activities, as well as the current workforce, will remain in place at its present location in the region of Varese in northern Italy. The transaction, from MV Agusta side, has been assisted by the global advisors Progman Group and Borghesi Colombo & Associates. ''This is very positive news for us,'' comments Richard Davies, Sales Director of UK distributors 3X. ''Customer interest in MV Agusta is growing constantly with YTD sales up 30% on last year. The focus that the change will bring to MV Agusta''s products will strengthen the Brand’s customer appeal and lead to continued growth here in the UK.'' For details of MV Agusta contact 3X Motorcycles on 01202 823344 or www.mvagusta.co.uk
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