The hearing also revealed
KTM has reduced its workforce
by close to 500 since the self-
administration proceedings
started. As AKV cited, the origi-
nal number of 2477 employees
that were in work at the
close
of last year has fallen to 1991.
Contracts of three members of
the KTM executive board were
also terminated.
Yet there are grounds for
optimism and reason to believe
KTM could still emerge from
this predicament and meet the
30 percent repayments of its
vast debts. Despite its produc
-
tion line currently at a standstill,
the company
will continue to
operate. And according to AKV,
"KTM's parent company Pierer
Mobility AG commissioned
Citigroup Global Markets Eu-
rope AG ("Citibank") to find an
investor
solution. This process
is underway, and a total of 23
potential investors are partici-
pating."
Speaking to
the Austrian
press after that hearing, Neu
-
meister said, "We have com-
pleted the second stage of the
90-day
restructuring proceed-
ings. And there are only three
reasons why
KTM is still alive:
the tireless commitment of
our employees, the loyalty of
our customers, and because
we have a fearless and highly
professional insolvency admin
-
istrator. Thank goodness that's
the case."
Neumeister also gave a clear
indication of KTM's desire to
remain a crucial part of motors-
port competition, with its recent
success in
the Dakar Rally proof
of that. "Winning the most im-
portant motorcycle category at
the Dakar
Rally is not just a sign
of life, but shining proof that
KTM can build the best motorcy
-
cles in the world," he said. "If the
banks let
us live to see this third
stage [of the restructuring], we
will be able to continue doing so
in the future."
Neil Morrison
VOLUME 62 ISSUE 4 JANUARY 28, 2025 P29
Neumeister believes that should
KTM survive the restructuring
process, the company will continue
participating in events like MotoGP
and the Dakar Rally, which Aussie
Daniel Sanders (below) won this year.