Rennie Scaysbrook | November 2, 2018
The following is a press release from MV Agusta
MV Agusta Receives 40 million Euro Investment—Varese, 2nd November 2018 – MV Agusta, the iconic motorcycle company, a leader in the production of premium motorcycles, has completed a capital injection of approximately Euro 40 million to strengthen the company resources to enhance its industrial and commercial plan.
MV Agusta Receives 40 million Euro Investment
Giovanni Castiglioni (left) with new CEO Timur Sardarov.
This additional capital has been completely injected by MV Agusta shareholders bringing their total injection in the company more than Euro 50 million over the last 12 months.
The industrial plan of the historical Italian brand is based on several key pillars: focusing on premium high-quality products, developing the sales network, and increasing the level of service as well as producing the most beautiful, technologically advanced motorcycles in the world. With regards to the sales network, MV Agusta is adopting a strategy focused on reducing the current number of dealers allowing its best dealers to increase their territories as well as promoting new mono-brand stores. MV Agusta Moscow is opening within the current month and MV Agusta London by mid-2019 together with other 6 new mono-brand stores within the next 12 months.
Another key point of MV Agusta plan is the reinforcement of the service level to both the existing network and clients through the introduction of a new integrated system linking MV Agusta, its network and supply chain to reduce the lead time of spare parts and accessories as well as the new product delivery to the market.
Additionally, after completing their core three cylinders product line that now ranges from 675 cc motorcycles to 800 cc high-performance motorcycles, MV Agusta is launching a new range of premium 4 cylinders of 1000 cc displacement.
In the coming days, MV Agusta will unveil the all-new Brutale 1000 hyper-naked with a record top speed of 312 km/h and an astonishing 212 hp. The fastest and most powerful naked bike ever produced.
Along with the all-new Brutale 1000, MV Agusta will unveil the F4 Claudio, a masterpiece, produced in only 100 units and dedicated to Claudio Castiglioni, the soul of MV Agusta and inventor of the F4 Superbike.
The MV Agusta Board of Directors appointed Giovanni Castiglioni as President and Timur Sardarov as the new Chief Executive Officer and Chairman of Board of the Group.
Giovanni Castiglioni commented: “In the last 5 years MV Agusta made an important growth throughout the enlargement of its product pipeline ranging from three to four cylinders and different segments of the market. Now is time to consolidate the efforts and concentrate to increase our service and network bringing to our customers a unique purchase experience, which reflects the values of our brand. On the financial side, I am proud of the incredible work we have done in the last 24 months that enabled us to reduce our net debt position by over 60% allowing MV Agusta to be a solid and stable company also thanks to a large amount of capital brought in by our shareholding company. These important achievements are the results of a great teamwork that Timur and myself did in this intensive period. Now that MV Agusta is strong I can finally concentrate on the industrial side, which is what I love, having the clear objective of bringing to the market the most advanced products in the industry. I personally took to our Board the idea of Timur being the future CEO of MV Agusta and I am very happy he accepted this role: his vision and his focus on innovation will bring the group to the next level”.
Timur Sardarov, MV Agusta new CEO stated: “I joined MV Agusta almost two years ago and work closely with Giovanni and our team in order to bring to the company not only vision and strategy but also the financial resources needed, allowing MV Agusta to become more modern and dynamic.
We can describe our company in several ways, but I still believe Claudio Castiglioni sentence is just perfect: “There are many beautiful motorcycles in the world but MV Agusta is something else”.
I am honored by the trust I received from our Board and our employees and will fully dedicate myself to the company with the objective of bringing MV Agusta to a higher level where it belongs. This company is a true family of incredibly skilled people, passionate and loyal customers, a patrimony of the 2 wheels industry and of Italy”.
MV Agusta will be presenting the new product range in the coming EICMA International Exhibition, at booth I48 Pavilion 22 in Milan from 6th to 11th November.
