Thursday, 14 June 2018

News Briefs

Race Winning Brands (RWB), the Mentor, Ohio based parent company of Dutch piston and performance specialist ProX Racing Parts, has bought Rekluse, the Boise, Idaho based clutch manufacturer. A “portfolio company” of Kinderhook Industries Llc (of New York, who bought the then ProX parent company PMI from Dover Corp in early 2007), RWB, which describes itself as a “leading manufacturer of high-performance and racing application focused components”, also owns Wiseco and JE Pistons among others.

Royal Enfield parent company Eicher Motors and Polaris Industries (Indian Motorcycle) have closed down the ‘Multix’ personal utility vehicle manufacturing joint venture they established in 2012. Despite initial success with the project, Eicher Polaris Pvt Ltd is said to have lost money throughout its operation, with a $14.13 m loss for the year ended March 2017, taking Eicher’s total investment in the project to north of $40m.

American distribution to manufacturing giant MAG has successfully completed its reorganisation process and emerged from its bankruptcy protection filing of November 2017. MAG is the parent company of well-known U.S. businesses such as distributor Tucker Rocky and parts and accessory brands and manufacturers such as Vance & Hines, Kuryakyn, Roland Sands, Performance Machine and UK based Renthal.

Monroe shock absorber and former Marzocchi Suspension owner Tenneco has bought Federal Mogul from controversial billionaire activist investor Carl Icahan for some $5.4bn. Federal Mogul owns a number of businesses and brands that make powersports industry product of various kinds, most notably Italy based Ferodo brakes and Champion spark plugs and filters.

Ducati has opened a new flagship store in New York City.  The new dealership, with a renovated showroom of more than 700 sq m, is strategically located at 155 6th Avenue in SoHo in New York and opened its doors on April 19. Ducati CEO Claudio Domenicali said: “This new Monobrand Ducati Store represents a further step forward in the process of continuous improvement of the quality of our network internationally.”