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: Two Wheels Blog via MotoBlog.it
