Harley To Divest.............. - Wrist Twisters
 
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post #1 of 8 Old 10-15-2009, 11:02 AM Thread Starter
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Harley To Divest..............

I just got tyhis Email today from MV Augusta just in case y'all are interested. What does this mean to Buell riders? S.O.L.?

MV Agusta USA News
October 15, 2009

FOR IMMEDIATE RELEASE MV Agusta USA Online - 2009

October 15th 2009
Press Release: Harley-Davidson To Divest MV AgustaHarley-Davidson unveils new single-brand strategy,
announcing plans to divest MV Agusta

Varese, Italy, 15 October 2009 - Harley-Davidson, Inc. (NYSE: HOG) today announced its third quarter financial results and unveiled key elements of its go-forward business strategy to drive growth through a single-minded focus on the unique strengths of the Harley-Davidson® brand. As part of this strategy, the Company will divest its MV Agusta unit and also discontinue the Buell® product line.
“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,” said Matt Levatich, President and Chief Operating Officer of Harley-Davidson Motor Company.

“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” Mr Levatich added.

Harley-Davidson acquired the privately held Italian motorcycle maker MV Agusta in August 2008 and key achievements since then have included the reinstating of production at the Company’s Varese factory and the re-starting of product development – leading to the recent unveiling of the re-engineered Brutale to great accolades from dealers and customers alike.

“With a streamlined business and such an exciting product pipeline we sincerely believe that MV Agusta is well positioned for the future,” said Mr Levatich.

Harley-Davidson will now begin actively looking for a buyer for MV Agusta to continue along the development of the brand as an outstanding manufacturer of premium, Italian performance motorcycles.

Link to Harley-Davidson, Inc. third-quarter earnings announcement, including information related to MV Agusta: Harley-Davidson USA



Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company (HDMC), Buell Motorcycle Company (Buell), MV Agusta and Harley-Davidson Financial Services (HDFS). Harley-Davidson Motor Company produces heavyweight custom, touring and cruiser motorcycles. Buell produces American sport performance motorcycles. MV Agusta produces premium, high-performance sport motorcycles sold under the MV Agusta® brand and lightweight sport motorcycles soldunder the Cagiva® brand. HDFS provides wholesale and retail financing and insurance programs primarily to Harley-Davidson and Buell dealers and customers.


Forward-Looking Statements
Harley-Davidson, Inc. intends that certain matters discussed in this release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company “believes,” “anticipates,” “expects,” “plans,” or “estimates” or words of similar meaning. Similarly, statements that describe future plans, objectives, outlooks, targets, guidance or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this release. Certain of such risks and uncertainties are described below. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and cautioned not to place undue reliance on such forward-looking statements. The forward- looking statements included in this release are only made as of the date of this release, and the Company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.



MV Agusta USA | 2300 Maryland Road - Willow Grove, PA 19090 | (215) 830-3300


JDubya
Harleyville, South Carolina
USA
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post #2 of 8 Old 10-15-2009, 11:18 AM
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They are dumping MV Agusta. Anyone have CBRXX's number ?!?! Buy them already man!

It seems in these tough economic times, Harley finds itself over-extended and needs to take some consolidatory moves to survive. Regardless of how I feel about Harley, I do respect them for their branding and in the long run I think this singular focus on Harley-Davidson will make them a much stronger brand.

I hope MV and Buell find buyers.

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post #3 of 8 Old 10-15-2009, 11:29 AM
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I bet HD's risky customer financing imploded. Their overpriced chrome widgets and clothing didn't save them. Time to burn fixtures and furniture!

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post #4 of 8 Old 10-16-2009, 03:58 AM
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[QUOTE=dream;362394]I bet HD's risky customer financing imploded. [QUOTE]

According to what I read on the Hell for Leather forum, this is exactly what happened. Because HD Financial is in such bad shape (due to making too many bad loans), HD had to take out a $1,000,000,000 line of credit (with Warren Buffet, I read in the local paper) for 15% interest to cover day to day operating expenses.

It's not that the various bikes aren't profitable(even though sales are way down), the problem stems from the high expense of daily working capital.

Hope they can pull it out, I'd hate to see them fold.

RB

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post #5 of 8 Old 10-16-2009, 09:06 AM
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Maybe they'll fold some of the Buell bikes in with the main HD lineup. That'd be smart.

As for MV Agusta, that marriage was never a natural one. Maybe MV can sell itself to VW.

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post #6 of 8 Old 10-20-2009, 09:38 AM
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I called a handfull of local Stealers and as usual with Harley skag salespeople, they have prices all over the place. They are going to get bailouts from the mfg but still ass-poke us customers. Fvck em!

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post #7 of 8 Old 10-20-2009, 10:02 AM
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maybe AMF will buy them and turn them around...

I Don't try to explain to people why I ride a motorcycle
"For those who understand, no explanation is needed.
For those who don't understand, no explanation is possible."

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post #8 of 8 Old 10-20-2009, 05:51 PM
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AMF? You mean the President of the United States?

(What? AMF means A Mother Fvcker don't it?)

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