Paolo Berlusconi saves failing Moto Morini
13 April 2010 11:48
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.