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Thursday, 3 December 2020
Yamaha Motor Europe intends to reinforce a cooperation with Fantic Motor
Motor Europe intends to reinforce a cooperation with Fantic Motor,
including transferring all issued shares of its group company Motori
Minarelli to Fantic Motor
IWATA, October 8, 2020—Yamaha Motor Europe N.V.
(hereinafter “YMENV”), a subsidiary of Yamaha Motor Co., Ltd.
(Tokyo:7272) that sells products in Europe, began consultations with the
European Works Council (EWC) concerning its intent to transfer all
issued shares of Motori Minarelli S.P.A. (hereinafter “MM”), a YMENV
group company manufacturing motorcycle engines in Italy, to Fantic Motor
S.P.A. (hereinafter “Fantic”) as part of ongoing work to strengthen
business ties. YMENV also notified MM’s local works council of its
intent on October 7 (local time).
Fantic manufactures and sells motorcycles and e-bikes in Italy, and has
been a longtime business partner of MM . This transfer of issued shares
is aimed at further strengthening the ties between Yamaha Motor and
Fantic, and based on the consultation process with the EWC, the relevant
contracts and paperwork for conducting the transfer to Fantic is
scheduled to be complete within the year.
MM produces 80,000 motorcycle engines of 50 to 400 cm3
annually, and supplies engines to MBK Industrie S.A.S. (France)—Yamaha’s
European motorcycle manufacturing subsidiary—and to other motorcycle
manufacturers in Europe, including Fantic since 1970.