Aprilia reaches agreement with seven Italian banks

The Aprilia Group announced this morning that it has reached an agreement with a group of seven Italian banks for emergency financing of 30 million euros, which should enable it to meet the increase in spring demand..

After 20 hours of tough negotiations, the Aprilia group announced this morning that it had reached an agreement for an emergency loan of 30 million euros granted by a pool of seven Italian banks (SanPaolo IMI, Banca Intesa , Unicredito, Antonveneta, Banca Monte dei Paschi di Siena (MPS), Banca Nazionale del Lavoro (BNL) and Capitalia).

These funds should allow Aprilia to restart production at the Scorze plant, near Venice, next week, where nearly half of the staff has been on technical unemployment since April 15 (read).

"We will be able to cope with the traditional increase in demand in spring and summer.", indicates in a statement the group of Ivano Beggio (Aprilia, Moto Guzzi and Laverda), which hears now"focus on the implementation of an industrial plan". This plan would involve a restructuring and a cost reduction program, with"opening up of capital to industrial or financial partners".

Eric MICHEL

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