Courtesy of www.mcnews.com.au:

Proton has announced it will buy a controlling interest in renowned Italian motorcycle manufacturer MV Agusta Motor SpA after signing a letter of intent with founder and owner Claudio Castiglioni.

Proton will purchase 50 percent of the company, which designs and manufactures MV Agusta, Cagiva and Husqvarna motorcycles giving the Malaysian company a controlling stake and distribution rights for the entire range of bikes produced by the group.

Proton embarked on its own motorcycle program in 2001 when it formed a team to compete in the Moto Grand Prix World Championship with racing legend Kenny Roberts. In late 2002 the company also announced its intention to build a range of road bikes.

Proton CEO Tengku Mahaleel Ariff said the purchase was a good fit for the Malaysian automotive company as it continued to broaden and expand its expertise and manufacturing base.

“With the ongoing re-organisation taking place at Proton, it is fair to say that the future of the company will not be singly dominated by car manufacturing,” he said.

“Proton is looking at the entire transportation suite and driving this ambition is our strength in our engineering.”

Mahaleel said Proton was impressed by Agusta’s engineering technology, award winning designs and styling.

“Both companies will evaluate how they could leverage each other’s strengths to improve productivity and Proton would have access to Italian design and flair,” he said.

“Italians are famous for designs, everything from fashion and cars to motorcycles. This is something we have to admit they are class leaders in and perhaps one of the elements missing in our products.

“The alliance with Agusta would complement Proton’s British unit Lotus and play a key role in influencing the styles and direction of proton’s future products,” Mahaleel said.

MV Agusta, recognised as the “Ferrari of motorcycle makers” was formed in 1945 and won its first World Motorcycle Championship when Englishman Cecil Sandford took the 125 title.

The company adopted the philosophy that soon also became a commercial slogan: “Racing experience at the service of mass production.” Throughout the next 20 years, the red and silver fairings of MV Agusta identified motorcycles capable of making a legend of all those who were privileged enough to grasp its handlebars.

MV Agusta’s most famous factory rider was Italian Giacomo Agostini, who conquered 14 of the marque’s 37 World Titles while other famed riders included Surtees, Hocking, Hailwood, Read, Ubbiali and Provini.

MV Agusta and brands it manufactures have taken 37 Manufacturer World Championships, 39 Rider’s World Championships and 270 Grand Prix victories; including 64 for Husqvarna riders in dirt bike racing activity.

The Castiglioni family re-formed the ailing MV Agusta Company in 1978 under the Cagiva Motor banner. The company subsequently renamed MV Agusta in 1997 and last year manufactured and sold 18,000 motorcycles.