Indian(R) Motorcycle is pleased to announce that it has
successfully executed a capital increase of $30 million in order to
fund its re-launch of the company and implement its business plan
developed over the last 2 years.
This follows the recent announcement that Indian(R) will close on
the purchase of a factory near Charlotte, North Carolina, where its
world headquarters is now located. The site, located in Cleveland
County, 35 miles west of downtown Charlotte, includes 11 acres of
property and a 40,000 square foot manufacturing facility which is
expandable to 125,000 square feet. This same announcement also
described the hiring of industry veteran, Geoff Burgess, to the
position of Vice President of Product Development and Engineering.
"This capital increase is a clear demonstration of our significant
commitment to the successful future of Indian Motorcycle. It ensures
that the Company has the proper financial foundation," said Indian
Chairman, Stephen Julius. "However, the success of Indian Motorcycle
will not be based on capital alone. Recruiting a world-class
management team and following the appropriate business strategy are
paramount," added Mr. Julius.
In this context, the company also announced that it is formally
seeking to hire a seasoned motorcycle executive as General Manager for
the company. This executive will assume the role of David Wright,
formerly President of the Company, who resigned on August 25, 2006.
Steve Heese has taken over as President while Stephen Julius remains
executive Chairman of the company. Mr. Heese is a long time investor
and partner with Stellican Limited, and currently serves as President
of another Stellican Investment, Chris-Craft Corporation.
"We wish David every success in his new venture and thank him for
his contribution to the company," commented Mr. Julius who stressed
that there would be absolutely no change to the direction and plans
for the company following Mr. Wright's departure.
Mr. Julius has a successful track record of re-launching iconic
brands through his London firm, Stellican Limited, including
Chris-Craft boats of which Mr. Julius is also Chairman.
