VOL. 52 ISSUE 31 AUGUST 4, 2015 P27
HERO BUYS EBR
CONSULTING
BUSINESS
T
he fallout from the EBR closure has resulted
in Hero MotoCorp Ltd—under its wholly owned
American subsidiary, HMCL Americas—acquiring
certain tangible and non-tangible assets of Erik
Buell Racing for $2.8 million, after paperwork was
filed with the Bombay Stock Exchange on July 28.
Hero has not bought EBR as a whole. Rather, it
has purchased EBR's consulting business, which
was charged with carrying out various develop-
ment projects for Hero as a client. The buyout of
the consulting wing of EBR means the Indian com-
pany will cease any further action or claims against
EBR, and also means Hero has not yet bought
EBR in its entirety, as the auction for the rest of
EBR's undisclosed assets has been rescheduled
for this coming week.
The sale needs to be approved be the Court,
and once that's been finalized it will allow Hero,
according to a company press release, to "accel-
erate development of certain consulting projects,
including the projects EBR was executing for Hero
MotoCorp at the time of filing Chapter 128 Receiv-
ership," that date being April 15, 2015.
It remains to be seen what will happen to the
remainder of EBR's assets, but the purchase of
the consulting wing of EBR is different from what
many thought. The speculation was that if EBR
was left to die to it would pave the way for Hero to
have a clear path to enter the U.S. market with its
own branded products having a distribution base
out of Wisconsin.
Read the full press release and court docu-
ments here: http://corporates.bseindia.com/xml-
data/corpfiling/AttachLive/7E63B739_52FC_469
1_9DC8_A2FD417CDC52_090818.pdf
Rennie Scaysbrook
Hero has made its move on EBR but it's not what
everyone was expecting.
HARLEY-DAVIDSON RECALLS 185,272 BIKES!
I
t's raining recalls at Harley-Davidson, with the
company announcing it will recall 185,272 bikes
due to saddlebags that might come off the bike
while you're riding, which could increase the risk of
a crash.
The bikes affected are 2014-2015 Road King
(FLHR), Street Glide (FLHX), Street Glide Special
(FLHXS), Electra Glide Ultra Classic (FLHTCU),
Ultra Limited (FLHTK), Police Road King (FLHP),
Police Electra Glide (FLHTP), CVO Ultra Limited
(FLHTKSE), 2014 CVO Road King (FLHRSE), and
2015 Electra Glide Ultra Classic Low (FLHTCUL),
Ultra Limited Low (FLHTKL), Road Glide (FLTRX),
Road Glide Special (FLTRXS), CVO Street Glide
(FLHXSE), and CVO Road Glide Ultra (FLTRUSE).
Harley-Davidson will notify owners, and deal-
ers will replace the affected saddlebag mounting
receptacles with updated receptacles, free of
charge. The recall is expected to have already
begun (July 27, 2015). Owners may contact Harley-
Davidson customer service at 1-800-258-2464. In
case you're wondering, Harley-Davidson's number
for this recall is 0166.
Renny Scaysbrook
PHOTOGRAPHY
BY
GOLD
&
GOOSE
