Latest factory news

[SteveMRC]

From an Italian business website today:

Moto Morini: glorious past, uncertain future
The historic Bolognese motorcycle firm is in danger of bankruptcy. 65 employees are at risk of dismissal. They need 300 thousand euros and a new buyer to save them, they have to do it before next February.

A crisis has brought to the company to the brink of bankruptcy which is becoming closer. The firm must find in a short time 300 thousand Euro to guarantee the liquidity needed for current expenditure. Otherwise, closure will be inevitable.

Even in times of recession, sales have increased by around 38% over a year. Positive results but not enough to stem a collapse that cost Moto Morini 17 million euros of debt.

For the 65 employees, the vast majority of them women, even on the assembly line, the decline in sales has meant layoffs. For the company, now managed under an arrangement with creditors, to find 300 thousand Euro within a week, would only be a momentary breath of fresh air. A final settlement would be the assignment.

There are rumours that Ducati have been asked to buy Moto Morini. But the factory in Borgo Panigale have just announced 60 redundancies in the office sector and all energies are concentrated in managing this challenging period, pending the end of the crisis. For now, Ducati has not shown any interest.

[Emmohaswheelsagain]

When Yamaha has revealed a dramatic one third reduction in sales, reporting a predicted net loss of £1.23 billion and Kawasaki report a net loss of 42.5 million and KTM a loss of £72.6 million and BMW cut back motorcycle production following a loss of 2.69 million then I suppose we should be surprised that no one has come to Morini's resue. Everyone is burning cash, loosing money and cutting back to buy themselves time. Just possibly the brand might be resued in a fire sale but I see no future for the company with that level of debt. It was always going to be a tall order but the recession on such a global basis has wiped out the whole market. Others will follow this is not the end so there may be room in the market for a new company should a fire sale take place.
Its not all doom and gloom though I still have my 9 1/2 and I intend keeping it just to remind everbody how good they are.

[vtxbrit]

When you talk about losses of billions or high millions and Honda on the verge of disaster it makes MM‘s 300k problem seem trivial.
Even though there a small firm (although I think employing 70 people makes them more than a small company) they must have done something right to only have a relatively small deficit, let’s hope the storm is ridden and this year proves good for them

vtxbrit

[joc]

MCN:
Troubled Italian manufacturer Moto Morini has been bought for 2.5 million Euros by Paolo Berlusconi, brother of Italian Prime Minister Silvio.

Moto Morini declared itself bankrupt in September 2009 – a move that allows Italian firms six months breathing room to avoid paying debts. The firm has since scaled back production, building bikes to order while a backlog of unsold stock was cleared.

Paolo Berlusconi is no stranger to motorcycles: he also owns Garelli, and is linked with the potential purchase of MV Agusta, which is currently being marketed by current owners Harley-Davidson. Berlusconi’s investment nets him the Morini factory, equipment plus all the rights to the bikes and designs.

Italian publication Motociclismo speculates that a new business plan will be in place and revealed in time for this year’s EICMA show in Milan this November.

[Mezzo Litro]

Paolo Berlusconi has a history which is almost, shall we say as "colourful" as his brothers ....

Mind you Morini being owned by the brother of the richest man in Italy is probably not the worst thing that could have happened by any means.

[Beveldrive]

That's the best news I've heard for a long time, I'm breathing a sigh of relief!

[350-v-twin]

http://www.telesanterno.com/casalecchio ... -0518.html

This seems a new chapter in this sad story. Don't know where it will end .....

[Beveldrive]

Just when we thought there was light at the end of the tunnel.

[corsaro chris]

Now;

Here's an interesting link, from the "Granpasso Club" Italy;

http://www.granpasso.eu/forum/viewtopic.php?f=7&t=125;

News is that we have to wait until end September / early October for any further news

CC

[toggy]

Latest update i could find online

http://translator.live.com/BV.aspx?ref= ... -0915.html


Seems there is to be an auction for MM October/November .Italian-Canadian Stefan Franz is still in the running with positive agreements from the Unions , New Garelli Paul Berlsuconi,is still interested too .The old girl ain't quite dead in the water yet .Lets hope the MM emblem is a Phoenix from the fire .

[toggy]

It would be nice if MM updated there Uk website .

[MickeyMoto]

Same with the main Company website too. Just a note on entering the site would be enough. At present it makes it look like MM is out of business as the pages have not changed.

Does anybody know if parts are available from the factory still? I would imagine it would be better to produce something then at least a going concern is available for sale.

thanks,

Mike.

[SteveMRC]

From Visordown website

AFTER LAST-DITCH efforts to save the firm during 2010 came to nought Moto Morini was finally closed late in the year. But now some of the laid-off workers have been recalled to build a last batch of machines from leftover spares at the factory.

Liquidator Piero Aicardi reckons there are enough parts left in the factory to build as many as 45 bikes, with the production being split between 16 Scramblers and 29 Granpassos, seven of which will use frames originally built for the stillborn Granferro – a model that was revealed in 2009 but never reached production.

Originally, there was hope that Paolo Berlusconi – brother of Italian prime minister Silvio – would save Morini. He already owns the Garelli brand, and made a bid to buy the remains of Morini only to be blocked by the unions.

The final 45 Morinis are set to be sold without any warranty, with prices reflecting that; one of the final Scramblers is set to cost 6300 Euros (£5300) and the Granpassos will sell for 7100 Euros (£6000). They're all likely to remain in Italy, though.



Read more: http://www.visordown.com/motorcycle-new ... z1BbXBsNes

[Mark N.I.]

Thats bad times, not nice to read at all

Mark

[72degrees]

Patrick at Pointe de Corde in Limoges won't be happy. He used to be a main dealer for Voxan,Morini, MV and Benelli. Two down...