Harley-Davidson Unveils New Single-Brand Strategy, Announcing Plans to Divest
MV Agusta
VARESE, Italy, Oct. 15 /PRNewswire/ -- 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:
www.harley-davidson.comHarley-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 sold under 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.
SOURCE MV Agusta
