Hero MotoCorp now has 49 percent stake in Erik Buell Racing
EAST TROY An India-based motorcycle manufacturer now has a 49.2 percent stake in Erik Buell Racing LLC of East Troy, according to a story in The Business Journal.
The American subsidiary of Hero MotoCorp Ltd. made a $25 million investment in EBR, which designs and manufactures sport bikes.
Hero and EBR begun an alliance last year.
The story noted Erik Buell will still retain his position as CEO, but Hero will add two directors to the EBR board.
The Buell Motorcycle Co. was founded in 1983 by Buell, a former Harley-Davidson engineer. Harley bought a controlling interest in the company, but got out in 2009.
That same year, Buell founded EBR, using space at the former company facilities in East Troy for the manufacture of racing bikes.
For the complete story, see HERE.