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Aprilia Finds Funding - May 10th 2004
 
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Aprilia Finds Funding - May 10th 2004


    Aprilia SpA, the Noale, Italy based manufacturer of award-winning motorcycles and scooters, today announced new credit lines for $30 million Euros as well as renewal of existing lines, for a total global line of credit of $180 million Euros.

    The financing agreement was reached with the assistance of a consortium of financial institutions, including Interbanca and Caretti & Associati. This new round of funding allows Aprilia to resume full production and satisfy high market demand as the main riding season gets underway in most parts of the world. Demand has been especially strong in Aprilia's growing U.S. market.

    Despite being a relative newcomer in the market--the company established its U.S. subsidiary in 1999--American consumers have embraced the Italian manufacturer's award-winning line of scooters and motorcycles.

    Aprilia, which offers more scooter choices than any other manufacturer in the U.S. market, just posted its best April sales month ever, increasing 30.6% over April, 2003. In addition to strong scooter sales, Aprilia's line of high-performance super sport bikes and adventure touring bikes continue to win awards for their thrilling combination of ride characteristics, technology and style.

    This new round of funding allows Aprilia to concentrate on the industrial plan and continue its growth by exploiting its extraordinary know-how and brand popularity. The industrial plan will include reorganization initiatives designed to gain cost savings and operational efficiencies. In addition, Aprilia will continue to proactively discuss business investment opportunities with financial and/or industrial investors to assure the necessary resources are in place for continued growth of the company's prestigious Aprilia, Moto Guzzi and Laverda brands.

    Information provided by www.getyourrideon.com