Harley complete MV Agusta sale
Added on Monday, August 9th, 2010 by Carole Nash Editor | No Comments
Harley complete MV Agusta sale
Harley-Davidson has completed the sale of MV Agusta to Claudio Castiglioni, the company confirmed at the weekend.
The troubled American manufacturer has sold the Italian brand back to former owner and current chairman Castiglioni, just two years after buying the Varese-based brand.
The sale comes as part of Harley-Davidson’s cost cutting measures, which have already seen the closure of the Buell brand of American sports bikes. The manufacturer has also announced a range of redundancies, proposed the closure of its largest manufacturing plant in Pennsylvania and has refused to rule out moving from its home in Milwaukee, Wisconsin. The company announced plans to sell MV Agusta back in October.
The announcement saw Harley-Davidson shares fall 3.7% ($1.07), to $27.54 in Friday afternoon trading.
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