Nuova Garelli has walked away from talks over the future of Moto Morini, which now looks like it will shut-down entirely with the only buyer expressing interest apparently offended by the way proceedings developed. A meeting which was scheduled for Monday for interested parties was cancelled and trade union involvement meant that Nuova Garelli still couldn’t reach an agreement particularly with regards to the future of workers.

The historic Italian motorcycle company now looks like it will be left with no future at all, and the trade unions, there to protect workers, have effectively done them out of a job altogether. We can only assume that bankruptcy proceedings will now continue, and Nuova Garelli will walk away feeling like its fingers have been burnt.

In fact, in issuing a statement, Nuova Garelli stated that:

“The meeting of June 14 was cancelled for incomprehensible reasons…. In light of obstacles from the trade unions and the impossibility of reaching an agreement with them, Nuova Garelli feels it must put an end to this affair which could have overtones of a soap opera if it weren’t for seeing bankrupt Moto Morini workers at home and without jobs.”

That would seem like the last word from Nuova Garelli and now we can only sit by and watch Moto Morini close its doors.

Source | Motoblog.it

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After being rejected by unions, it looks like a Moto Morini purchase by Garelli could be finalised next Monday. After provincial authorities called an extraordinary meeting, the Nuova Garelli company, owned by Paolo Berlusconi, could sign an agreement. Although a purchase is essential to the survival of the Moto Morini brand, controversy still surrounds the agreement.

Head of the metal workers union, Bruno Papignani, says: “The agreement will be signed next week, but Paolo Berlusconi’s solution is not the best: we’ve already said it and we continue to think so.” The statement comes during talks over the crisis in the metal industry.

According to reports, the 20 jobs of 57 promised last month have increased to 26, but that still leaves another 31 people out of work. Paolo Berlusconi had originally offered 2.8 million euros for the Moto Morini company, but now that it has entered liquidation, that figure could be dramatically reduced, with more money going to workers laid off.

No further details regarding the agreement available, with the only certainty that production will remain in the Bologna province, in Italy’s north. Production could also be dedicated to producing more Garelli bikes and no further Moto Morini bikes. More news on Monday when the agreement is signed.

Source | Motoblog.it

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Italian motorcycle manufacturer Moto Morini is even closer to the verge of going out of business after labour unions rejected Nuova Garelli’s (owned by Paolo Berlusconi, brother of Italian PM) buyout plan.

Berlusconi original offer was around € 2.8-2.9 million with a three year plan (2011-2013) that included keeping 20 of the original workers, an additional of € 250 on redundacy payments and pick up Moto Morini’s debt in regards to the workers severance pay and leasing the current factory for the next six years where Garelli was planning to have their XO scooter range assembled and tested at the Morini factory.

It’s expected Berlusconi will make another offer in the coming weeks.

Source | motoblog.it

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