Thursday, 3 December 2020

Yamaha Motor Europe intends to reinforce a cooperation with Fantic Motor

 

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Yamaha 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
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