VOL. 52 ISSUE 33 AUGUST 18, 2015 P35
BUELL TO BUILD AGAIN!
I
n what has been a tumultuous
six months for Erik Buell and
his company, Erik Buell Racing,
it now appears that the recently
bankrupt organization will, once
again, be building motorcycles
in the near future thanks to new
owner, Bruce Belfer, of Atlantic
Metals Group LLC.
Belfer purchased
the manufacturing as-
sets of Erik Buell Rac-
ing at a court-ordered
auction for $2.25 mil-
lion after Hero Moto-
Corp—a 49 percent
shareholder in EBR—
had earlier acquired
the consulting wing of
the business for $2.8
million. It now appears
Belfer, who has no
previous motorcycle
manufacturing experi-
ence, aims to reopen
the business as soon
as possible, with the
manufacturing plant in
East Troy ready to start
producing motorcycles
once Belfer gives the
project the green light.
Speaking with the
Milwaukee Wisconsin Journal
Sentinel, Belfer stated, "What
it boils down to is the people.
These people have homes and
friends and family and kids
in school, and you don't just
uproot them and move them
like you can do with inanimate
objects. These people are Erik
Buell Racing, so I have to look
at that as a fact of doing busi-
ness," Belfer said.
"I intend to respect that and
keep the operations in Wiscon-
sin, that must stay there, and if
anything has to be moved, it well
may be. But that is for the future
to discuss. It's not any plan that
exists today," he said.
Prior to Belfer's purchasing
of the manufacturing assets of
EBR, he had no relationship
with Erik Buell. However, as a
long-time rider and engineer
himself, Belfer had an admira-
tion for Buell's bespoke designs
and believes there is a market
for his products, albeit with
changes at management level.
"Erik is a tremendously gifted
engineer. He's an exceptional
leader, who has earned ex-
ceptional loyalty from his team
and legions of Buell and EBR
riders. But he was distracted by
Hero's demands in its consulting
contract, resulting in a vacuum
in the senior management of
running the manufacturing busi-
ness," Belfer said. "I think the
combination of (Buell's) skills
and mine makes for a solid busi-
ness model," he said.
Erik Buell Racing filed for
bankruptcy on April 15 with
reported debts of over $20
million, leaving 126 employees
out of work with over $200,000
owed in paid time off. CN
Is it smiles again for
Erik Buell and his EBR
concern? It certainly
seems so.
PHOTOGRAPHY
BY
STEVE
COX
