MV Agusta is sailing on safe waters now. Closes deal on new investments.
Our favourite Italian dream house is short on bills. But there is a silverlining to this from Russia.by Sagar, on
Despite making gorgeous motorcycles, MV Agusta always seems to find itself under the radar and it never seems to end for the Italian marquee. Last year, it was reported that the company allegedly misused $ 8 million of social security contributions of the employees. Post this, the company’s major owners, Mercedes-AMG looked out from the company after an acrimonious situation, leaving the Italian high and dry.
This made MV Agusta restructure its financial situation and was compelled to cut down its employees from 300 to just 190. They were even planning to cut down operations and production of newly developed motorcycles. And the company was hunting for investments. Then came the news from Russia, with Love.
After many allegations, the Italian has now signed an agreement to increase its capital with a Russian investment group-Black Ocean, which is a flagship satellite of Ocean Group holding company.
MV Agusta is one brand that has occupied wall spaces in every kid’s room. Not only have they made wallpaper material machines, but also credit themselves with producing some of the world’s iconic power houses on two wheels who smack the competition right outside the ballpark.
Their rich heritage both on and off the track and exotic Italian lineage have been through the history’s ups and downs. Doing so, the company switched hands for four times in the past 12 years and have been once owned by Harley Davidson until recently in 2014 by Mercedes-AMG being a 25 per cent stakeholder.
Now, Mercedes-AMG has sold all their stake to ComSar Invest, which is a part of the Black Ocean group. Although no official statements regarding the question ’How much?’ has been made, it is said that it enough to lift the Italian brand much higher from the troubled waters.
According to the reports, MV Agusta Motor Holding will now own 100% of MV Agusta Motor S.p.A. that is the arm responsible for the production of dream machines on two wheels. GC Holding (the holding company owned by MV Agusta CEO Giovanni Castiglioni) will own a majority of the MV Agusta Motor Holding while ComStar will have a “strong minority” position in the brand – possibly up to as much as 49% of the company.
With this, things have started to ease off, and MV Agusta is now concentrating on working on new machines for 2018 including the new Brutale. It will run on a 1200cc, four cylinder engine that runs on the mighty F4 superbike. The last motorcycle unveiled by the company was the updated Brutale 800 RR that pranced on 140 horses that also boasted of a host of engine modifications to make it quieter and more refined.
But, we will however not see any new exciting products developed by the Italian house for 2017 and instead MV is in a bid to get back its workforce and be busy in getting back up and running to full production. That said, it will be at a lower mark than the 8400 units sold in 2016, probably say 5000 units in 2017.