We were the first ones to predict that Hero MotoCorp might acquire certain assets of Erik Buell Racing and that has finally happened.
HMCL NA and HMCL Americas – subsidiaries of Hero MotoCorp have announced that they have entered into a Settlement Agreement with the receiver appointed by the Circuit Court, Wisconsin, USA in the matter of Chapter 128 Receivership filed by the Erik Buell Racing.
As per this new settlement agreement, HMCL Americas has agreed to acquire the ownership of certain tangible and intangible assets of EBR for US$ 2.8 million. Both the companies have also agreed to resolve all disputes and fully give mutual releases in terms of the Settlement Agreement for all subject matters which is in any way related to EBR.
This new development will help Hero MotoCorp accelerate certain projects that were affected due to EBR’s bankruptcy. We are expecting that motorcycles like the HX250R and the Hastur will get more focus now and hope they reach the market soon.
