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HARLEY
COMPLETES MV AGUSTA ACQUISITION
Harley-Davidson announced the completion of its purchase of the
privately-held Italian motorcycle maker MV Agusta Group. “The company
has acquired 100 percent of MV Agusta Group shares for total
consideration of approximately 70 million euros ($108 million), which
includes the satisfaction of existing bank debt for approximately 45
million euros ($69 million),” stated spokesperson Paul James. He told
us MV Agusta will add two motorcycle lines to the Harley-Davidson
family: a line of exclusive, premium, high-performance sport motorcycles
sold under the MV Agusta brand, as well as a line of lightweight sport
motorcycles sold under the Cagiva brand. CEO Jim Ziemer said, “Our
primary focus with this acquisition is to grow our presence and enhance
our position in Europe as a leader in fulfilling customers’ dreams,
complementing the Harley-Davidson and Buell motorcycle families.” |
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MICRON EXHAUST
GONE
According to Steve Larson, customer support head for Annitori
Distributing, former importer of Micron Exhaust, the pipe company has
liquidated all their assets. Final bids were due in mid-August, just as
this issue of MI went to press. Larson told MI they had been importing
the brand since the early ‘90s and Annitori’s contract was due to
expire the end of September. The distributor stated they had been
pulling away from exhausts for the last two years. Apparently, Micron
was slow to adapt to market conditions and trends. |
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SUOMY HELMETS
U.S. UNDER NEW MANAGEMENT
In response to a misleading press release issued Jul. 1, 2008, sent out
by the former U.S. agent and published in other trade publications,
Suomy Helmets would like to inform all dealers and end users that it is
“business as usual” in the U.S. market. The new release states that
Parts Unlimited, Romaha Distributors and Van Leeuwen Enterprises will
remain as strong Suomy distributors nationwide. “Along with their
extensive dealer network, these outlets will continue to provide sales
for new and current lines available to the U.S. market. Supporting this
network is a Suomy factory office dedicated to providing quality
customer service as well as warranty and technical support,” it added. |
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BRIDGESTONE
FIRESTONE RAISES PRICES
Bridgestone Firestone North American Tire (BFNT) and Bridgestone
Firestone Canada (BFCA) announced price increases on the companies’
Bridgestone and Firestone brand tire lines, as well as all associate
brand tires. “The announced increases, up to 10 percent, on passenger
and light truck, truck and bus, motorcycle and agricultural and
off-the-road tires, will affect the replacement, original equipment and
export channels,” stated a company spokesperson. “As a company we
are faced with a shortage of the basic, critical raw materials used to
make our tires. The result is a dramatic rise in prices for commodities
such as butadiene, natural rubber and other materials,” explained
Asahiko Nishiyama, vice chairman and president of Bridgestone Americas
Holding, parent company of BFNT and BFCA. He continued by saying,
“Although we’ve worked continually to enhance efficiencies and
increase productivity in all areas of our business, these efforts can
not fully mitigate the escalation of costs that we are facing. As a
result, we have no choice but to implement this price increase.” The
price increase is reportedly scheduled to begin Sept. 1, 2008. |
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AMA APPROVES
SALE TO DAYTONA MOTORSPORTS GROUP
The American Motorcyclist Association (AMA) reported its board of
directors has unanimously approved the final agreement regarding the
sale of certain AMA Pro Racing properties to the Daytona Motorsports
Group (DMG). According to an AMA spokesperson, “Under terms of the
sale, DMG will own the sanctioning, promotional and management rights to
AMA Pro Racing.” The sale reportedly does not include the rights to
the AMA Supercross and AMA Arenacross Series. |
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MOTORCYCLE
FATALITIES RISING IN TENNESSEE
The WZTV Fox 17 Web site reported fatal motorcycle accidents are rising
throughout the state as the number of motorcycle licenses increase.
“According to the Tennessee Department of Safety, the number of
motorcycle licenses increased statewide about 5 percent each year
between 2003 and 2006,” the site explained. It added, “Also
increasing were the number of motorcycle related fatalities – from 88
in 2003 to 140 in 2006.” |
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MOTORCYCLE
& SCOOTER CRASHES UP
Winston-Salem, NC, police have reported a 38 percent increase in the
number of motorcycle and scooter accidents this year, with 101 total
crashes so far, compared to 73 in 2007, stated the WXii 12 Web site.
Sgt. Jeff Stutts has attributed the increase to high gas prices and so
many people buying motor scooters, which can get anywhere from 80 to 100
miles per gallon, the site added. “Another big draw for those
considering buying scooters is that North Carolina laws don’t require
scooter drivers to carry a driver’s license or have motor vehicle
insurance as long as the scooter doesn’t have an engine larger than 50
cubic centimeters, an external shifting device or the ability to travel
faster than 30 mph,” WXii 12 said. |
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MORE MONEY
& PERSONNEL NEEDED TO MANAGE MOTORIZED RECREATION
“Countering criticism that off-highway vehicles damage public land,
the American Motorcyclist Association (AMA) told a congressional
committee that lawmakers need to provide more people and money for
federal agencies to responsibly allow for varied uses of the land,”
stated spokesperson Peter terHorst. He told us Ed Moreland, AMA vice
president for government relations, testified before the U.S. Senate
Committee on Energy and Natural Resources, saying that active management
of different forms of recreation on federal public land is needed rather
than trying to cut the costs of management or eliminating motorized
trails. “The motorized recreation community has a long history of
volunteerism and is already helping public land managers by maintaining
trails, promoting ethical use and advocating for appropriate funding
levels,” Moreland explained. He added, “While it remains incumbent
upon the agencies to provide a managed setting for recreation and a
forum for users to engage in the debate and help provide resources,
education and expertise, it is the responsibility of Congress to ensure
that the agencies have sufficient resources to accomplish their
mission.” |
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MOTORCYCLE
DEATHS DECLINE IN VA
In the first five months of 2007, 41 people died while riding a
motorcycle in Virginia and in the same period of 2008, the state has
recorded 20 motorcycle related deaths, informed the Richmond Times
Dispatch. The paper explained motorcycle related deaths in Virginia are
at their lowest level since 2005, even though there are more registered
motorcycles in the state than ever before – 136,953 as of May 31.
“The 126 fatalities in Virginia in 2007 marked a 10 year high and
Virginia officials made safety a priority for 2008,” it added. |
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NEW SC
MOTORCYCLE LAW DRAWS MIXED REVIEWS
The WTOC Web site reported South Carolina has passed a new law that will
allow motorcyclists to roll through red lights, but the privilege comes
with certain stipulations. According to the site, “Under the new law,
motorcyclists must come to a complete stop, put their feet on the ground
and if the light doesn’t turn green after two minutes, they can ride
on.” Some riders say the law is needed, it continued, while others are
concerned that the law will cause more motorcycle related accidents and
deaths, especially for those with little riding experience. One
motorcyclist, Joe Simkins, stated, “There are those who will look at
it as an advantageous law, like I don’t have to sit there any more and
wait. I would much rather wait. It’s not worth it in my opinion.”
This law also reportedly applies to mopeds, scooters and bicycles. |
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STOLEN
MOTORCYCLE FOUND AFTER 34 YEARS
A Harley-Davidson motorcycle that was stolen almost 34 years ago has
surfaced in central New Jersey, reported an online news source. It told
us Michael Meistrell bought the 1971 Sportster on eBay for $2,400 and he
learned the bike was stolen after contacting Harley-Davidson for more
information about the bike, which was stolen on Halloween 1974 in Rhode
Island. Meistrell and several of the bike’s previous owners were not
aware it had been stolen and eBay will reimburse Meistrell under its
policy protecting those who inadvertently buy stolen vehicles, the site
added. The bike’s original owner is being traced and no arrests have
been made at press time. |
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| Passings |
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GREG WELD
“Greg Weld, the creative visionary who took racing and custom wheels
to a new level died at 64,” informed spokesperson Rick Raus. He
continued by saying, “Weld’s revolutionary view and his
unconditional desire allowed him to create the finest quality forged
wheels in the industry.” He founded Weld Wheel Industries in 1970,
manufacturing forged alloy wheels for various vehicles and, in 2007,
started Greg Weld Competition Wheels, Raus explained. “His continuous
investments in technology, research and development and talented people
positioned Weld to be a pioneer and undisputed leader in the aftermarket
industry,” he added. |
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GLOBAL MOTORSPORT GROUP, INC., AGREES
TO SALE WITH DAEI-IL USA
Global Motorsport Group, Inc., (GMG) announced that it has agreed to
sell its assets to Dae-Il USA, Inc., as a going concern. According to
their press release, the sale includes all of GMG’s US operations
– including Custom Chrome, Motorcycle Stuff and Jammer divisions,
and the stock of Global Motorsport Group GmbH, which manages all of
GMG’s European operations. In order to facilitate the sale process,
the Company said they filed a voluntary petition for reorganization
under Chapter 11 of the US Bankruptcy Code. The filings were
reportedly made in the US Bankruptcy Court for the District of
Delaware.
The Company announced that it has reached an agreement with its lender
to provide debtor-in-possession financing, subject to Bankruptcy Court
approval, to fund the Company’s business operations while it
completes the sale process. This financing will reportedly provide the
Company the necessary funds to continue operations in the normal
course of business, keeping all of the Company’s distribution
facilities open on normal schedules and fulfilling customer orders.
The Company does not foresee any changes in employee numbers or
facility locations.
The release said, the purchase agreement is subject to the approval of
the Bankruptcy Court. Definitive documents will be filed with the
court, along with bidding procedures noting that qualified bidders
will be provided an opportunity to make higher and better offers for
the purchase. It is anticipated that the sale will be completed in
March.
“We are pleased to have entered into an agreement to be acquired by
Dae-Il USA and we are confident that this transaction will position
GMG to reestablish its leadership position in the marketplace,” said
Scott Avila, chief restructuring officer of GMG. “We have carefully
reviewed our options and believe that a sale will provide the best
long-term prospects for the Company’s customers, vendors and
employees.”
“We look forward to supporting GMG’s success and continuing
operations as a stand-alone business,” said Nace Panzica, president
of Dae-Il USA and the original founder of Custom Chrome. “We are
committed to investing in GMG’s product lines and outstanding
customer service. With the continued support of our faithful
employees, loyal customers and valuable vendors, I am confident
GMG’s future will be a success.”
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YAMAHA SEEKS
INTERPRETATION OF NEW MONTANA LAW
Yamaha Motor Corporation, USA, announced its request for further
interpretation of a new Montana law, entitled Motorsports Vehicle
Manufacturer Unfair Trade Practices, which was passed into law in
2007. “This new Montana law was passed after little open dialogue
between manufacturers and dealers. As such, select dealerships in
Montana expressed concern directly to Yamaha about the effect the new
Montana law would ultimately have on them and their business,”
explained Public Relations Manager Van Holmes. He told us the company
modified its wholesale sales and incentive programs to comply with the
new law, which later resulted in one of Yamaha’s dealers, Team
Bozeman Motorsports, complaining to the Montana Attorney General’s
Office with allegations of discrimination and threats to sue Yamaha
for its change in programs. According to Holmes, “In response to
such actions, Yamaha Motor Corporation, USA, has filed a lawsuit
seeking only declaratory relief in Montana Federal District Court,
Missoula Division, against two of its authorized dealers, Team Bozeman
Motorsports and Tingley’s LLC.” At issue is how the new law should
be interpreted, said Holmes, and there is confusion over key elements
of the statute, which could result in serious penalties for all
motorsports manufacturers and distributors in Montana. (Subscribers to
Rick’s Motorcycle Industry e-Newsletter got the full story. Log onto
www.mimag.com/enewsletter for your subscription.) |
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EXCESSIVE SPEEDING COULD COST FLORIDA
RIDERS THEIR BIKES
WWSB ABC 7 Florida’s Web site reported that a bill filed in the
Florida House could make it so that riders charged with reckless
driving or exceeding the speed limit by 50 miles per hour could be
arrested and have their bikes seized. “Riders later convicted of
those offenses could lose their motorcycle licenses for 10 years,”
the site explained, adding, “The bill’s sponsor, Republican
Representative Carlos Lopez-Cantera of Miami, says the state needs to
send a tough message to motorcyclists who drive recklessly on the
highway.” Members of the House’s Committee of Infrastructure have
reportedly postponed passing the bill until they can address concerns
regarding the severity of the punishments in it.
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VANCE &
HINES ACQUIRES WHITE BROTHERS OFFROAD EXHAUST LINE
Vance & Hines announced it has acquired the White Brothers offroad
exhaust line of products and technology. “The addition of the White
Brothers line will enable Vance & Hines to serve a wider range of
market segments and accelerate the development of new products by
combining the resources and expertise of two leading companies that
hail from opposite ends of the motorcycle aftermarket,” stated
spokesperson John Potts. He added, the joining of these two companies
enables Vance & Hines to deliver premium, cutting-edge offroad
products to motorcycle enthusiasts worldwide. “Having focused our
efforts on addressing the explosive demand in the on-road aftermarket,
bringing the White Brothers offroad products under the Vance &
Hines umbrella will allow us to provide leading offroad products as
well,” said President Terry Vance, who concluded, “It will open
new avenues for the expansion of our fuel management technology under
the Fuelpak brand.” |
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JC MOTORS TEAMS
UP WITH KAWASAKI
JC Motors and Kawasaki Motors will team together to provide motorcycle
transportation services to the growing Riders of Kawasaki (ROK) member
benefits, thus making JC Motors the premier motorcycle shipping
company of ROK members, stated spokesperson Matt Ellis. He told us,
“To celebrate this new relationship, ROK members will receive $50
off motorcycle shipping each one-way shipment and $100 off any
round-trip motorcycle moving, door-to-door delivery to a business or
residence and a dedicated account representative to follow the process
with them and answer questions.” The company will also reportedly
offer step-by-step, 24 hour real-time tracking on its Web site,
www.motorcycleshippers.com, and will also include a free motorcycle
cover with every transport. |
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AMA SEEKS
HEALTH INSURANCE BILL SUPPORT
The American Motorcyclist Association (AMA) announced that over 100
members of the US House of Representatives have co-sponsored a bill
that would end health insurance discrimination against motorcyclists
and others who participate in legal recreational activities or use
their motorcycles for transportation. AMA Vice President for
Government Relations Edward Moreland stated, “The AMA is calling on
motorcyclists and others who face health insurance discrimination to
urge their Representatives to support H.R. 1076, known as HIPAA
Recreational Injury Technical Correction Act.” The bill is
reportedly designed to close the loophole created in the original
HIPAA legislation, passed in 2001, which allowed insurance companies
to deny benefits to people who are injured while participating in
legal recreational activities such as riding a motorcycle or offroad
vehicles, horseback riding, skiing and other activities. |
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