MV Agusta is going through another difficult chapter existentially. The Italian manufacturer has acknowledged that its operations and finances are not where it wants them to be and is now working through a structured recovery process. This comes barely a year after the company separated from KTM and returned completely to the Sardarov family's Art of Mobility.
In a clarification issued on 11 September, MV Agusta said it has been working for several months to restore its full operational, industrial and financial balance. It directly linked much of the difficulty to the separation from KTM explaining that the two companies had become deeply integrated and that restoring MV Agusta's independent processes has taken considerable work.
The strongest indication of the seriousness of MV Agusta's position is its decision to enter Italy's Composizione Negoziata della Crisi, or CNC. Italy's official Chamber of Commerce system describes the CNC as a voluntary, negotiated procedure for businesses experiencing financial or asset imbalance when recovery is still considered reasonably achievable. An independent expert assists discussions with creditors and other stakeholders with the objective of restructuring the business before the situation develops into insolvency.
Art of Mobility remains the official 100 percent shareholder. MV Agusta has confirmed that its owner has evaluated several possibilities concerning the company's future shareholding structure, with continuity of the company and progressive consolidation of operations as priorities.