Harley-Davidson Concludes Sale MV Agusta
Harley-Davidson has sold its subsidiary, MV Agusta, to Claudio Castiglioni and his wholly owned holding company, MV Agusta Motor Holding.
Harley-Davidson said that it had intended to sell MV Agusta as part of a new corporate strategy to focus resources on the Harley-Davidson brand in October 2009.
Mr Castiglioni has held discussions with the company and has now acquired the MV Agusta to enhance its business in the market.
Mr Castiglioni is the former owner of the Italian motorcycle maker and also has served as the chairman of MV Agusta since 2008, when Harley-Davidson acquired the company.
Keith Wandell, president and CEO of Harley-Davidson, said: “MV Agusta is a proud brand and we wish Mr. Castiglioni and the company's employees well.
“Our decision to divest MV Agusta reflects our strategy to focus our efforts and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to long-term growth.”
Headquartered in Milwaukee, Wisconsin, Harley-Davidson, a manufacturer of heavy-weight motorcycles, is the parent company for group of companies doing business as Harley-Davidson Motor Company (HDMC), Harley-Davidson Financial Services (HDFS) and Buell Motorcycle Company (Buell).
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