EQS-News: PIERER Mobility AG
/ Key word(s): Agreement
PIERER Mobility: KTM takes over distribution of MV Agusta motorcycles in North America
Cooperation agreement with MV Agusta signed
KTM AG, a 100% subsidiary of PIERER Mobility AG, has concluded a cooperation agreement with the Italian-based motorcycle manufacturer MV Agusta. Under this agreement, KTM will take over the distribution, the promotion and customer service of the MV Agusta range of motorcycles for the markets U.S., Canada and Mexico through select KTM AG dealers as well as existing and new MV Agusta stores.
Expansion of the range of premium motorcycles
KTM brings to this partnership a strong market presence in North America, where it expects to exceed 100,000 units sold in 2022 with the KTM, Husqvarna and GASGAS motorcycle brands. The takeover of the distribution of the MV Agusta brand complements this extensive range of premium motorcycles of the PIERER Mobility Group and provides MV Agusta with a competitive access to the North American market.
MV Agusta is a historic European motorcycle manufacturer with rich tradition, its brand being a symbol of Italy’s design and engineering excellence. The agreement is part of MV Agusta’s strategic plan, which envisions a significant growth in the coming years.
About the Group
PIERER Mobility AG is the holding company of Europe’s leading manufacturer of powered two-wheelers, producing a full range of premium brands including KTM, GASGAS and Husqvarna Motorcycles. With key strengths in innovation, PIERER Mobility is a pioneering technology leader in two-wheeled e-mobility through its motorcycle brands. Its Husqvarna E-Bicycles, GASGAS Bicycles, FELT Bicycles and R Raymon complement the two-wheeler segment. Rounding out the premium brand offering are high-performance components produced under the WP brand and KTM X-BOW high-end sports cars. In the 2021 financial year, PIERER Mobility AG achieved record sales of € 2.1 billion and EBIT of € 193.5 million, while employing more than 5,000 people.
THIS ANNOUNCEMENT DOES NEITHER CONSTITUTE AN OFFER TO SELL NOR AN /INVITATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF PIERER MOBILITY AG. THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
Contact – Investor Relations
Melinda Busáné Bellér, Tel.: +43 (0) 1 533 1 433 – 70
21.09.2022 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com
|Company:||PIERER Mobility AG|
|Phone:||+43 (0) 7242 69 402|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; SIX, Vienna Stock Exchange|
|EQS News ID:||1446695|
|Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PMAG, Bloomberg: PMAG SE, PMAG GY Reuters: PMAG.S|
|End of News||EQS News Service|
1446695 21.09.2022 CET/CEST