Aug 4, 2001
© 2014, Roadracing World Publishing, Inc.
(This original, copyrighted material may not be copied, cut and pasted, published or otherwise reproduced in any way in any medium, which means, don’t post this on another website or BBS. If you want somebody else to see this, send, share or tweet a link or post a link to this page.)
Note: This post, originally posted 7/24, contained an incorrect conversion of Lire to U.S. dollars. The conversion is corrected here.<BR><BR>Piaggio Holding SpA bought 20 percent of MV Agusta SpA in a July 24 agreement which may eventually lead to MV Augusta being integrated into Piaggio.<BR><BR>Piaggio, which is controlled by Morgan Grenfell Private Equity, recently bought Derbi.<BR><BR>MV Agusta built 23,000 motorcycles in 2000, with sales worth 240 billion Lire ($109,479,120 U.S.). Piaggo sold 480,000 vehicles under the Piaggio, Vespa and Gilera brand names in 2000, worth 2006 billion Lire ($915,062,978 U.S.).<BR><BR>According to a press release issued by MV Agusta, the agreement with Piaggio may be "representing the first step towards a possible further integration of the two companies which will allow from now on to put together two important and perfectly complementary and functional experiences in order to launch successful enterprises."