Good turns for MV Agusta, as the Italian motorcycle manufacturer has secured a €15 million loan from SACE and Banca Popolare di Milano (BPM).
The loan, which was issued by BPM and guaranteed by SACE, will go towards MV Agusta’s foreign growth plans, namely the company’s strengthening of its US business, and its push into Brazil and Southeast Asia.
The more business-speak version of that statement is that MV Agusta will use the €15 million to implement the company’s 2014-2018 business plan, which has the company expanding its product range and penetrating into “high-potential” markets.
MV Agusta has had a rough road securing financial loans since the company’s re-acquisiton by the Castiglioni family, and to A&R‘s knowledge, this is the first major investment the banking system has made into the iconic brand since Giovanni Castiglioni took over as Chairman of MV Agusta Motor S.p.A.
This turn of fortune is surely due in part by Mercedes-AMG buying 25% of MV Agusta’s private stock. The German car brand not only brings resources and technology to MV Agusta, but also a bit of foundation and stability to the once rocky brand.
Overall, the loan can only be seen as good news for MV Agusta, which desperately needs to strengthen and reinforce its presence in the American market, with stronger dealer support and customer service.
Each year the company’s motorcycles mature, and penetrate into new segments, but MV Agusta’s basic business structure has failed its customers. The turning point for the brand though seems at hand.
Source: SACE
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