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Join Date: June 18, 2004
Location: Woodbridge, Va.
January 18, 2005, 07:51 AM

January 11 2005
Piaggio seals Aprilia deal
Piaggio has signalled its intention to be a genuine global player in the bike industry after sealing the deal to buy Aprilia.
The aquisition creates a new bike firm with revenues of 1.5 billion euro, the capacity to build 600,000 bikes a year and a presence in 50 countries, making it the fourth largest bike firm in the world.
Piaggio Chief Executive Officer Rocco Sabelli, said: “The new group has one of the most complete and diversified product ranges on the market, from 50cc scooters to 1000cc motorbikes, with a 24% market share in Europe and 35% in Italy, eight industrial plants worldwide, six research and development centres, and 6000 employees.
“We wish to maintain our ability to compete: the inclusion of the Aprilia Group in Piaggio will make our presence in key markets more incisive and will allow us to further increase and develop our investments in technological and productive innovation”.
Chairman of the Board of Directors Roberto Colaninno, added, “This will enable the full recovery of one of the most prestigious Italian motorcycle groups, with brands that are famous worldwide.”
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