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NEWS
Erik Buell Racing set to expand
Erik Buell, owner of Erik Buell Racing and the man behind the defunct Buell Motorcycles, is ramping up his operations with a US$20m injection of foreign capitalAccording to a recent report in Milwaukee newspaper The Business Journal, Erik Buell Racing -- the motorcycle manufacturing and engineering firm owned by Erik Buell, also the founder the now defunct marque Buell Motorcycles, is set to expand his operations, having secured foreign funding to the tune of US$20m.
Buell Motorcycles was owned by Harley-Davidson until 2009, when the US cruiser giant shut it down in the wake of the global financial crisis -- a move to help streamline its costs and focus on its core business. After parting company with Harley-Davidson Erik Buell founded Erik Buell Racing, which has specialised in producing a high-spec, limited-edition sportsbike, the EBR 1190RS (pictured). The operation utilises a portion of the old Buell Motorcycles factory in East Troy, Wisconsin.
The EBR 1190RS is bristling with top-shelf components and costs over US$40,000, but with the recently secured funds Buell is looking to ramp up its operations and produce a second, far-less-costly model, which Buell has indicated will retail for under US$20,000.
Buell was able to secure the capital injection through the US Federal Government's EB-5 program, which provides US residency and citizenship for foreign nationals who invest in American companies and create more jobs.
Speaking with The Business Journal and Fox News, Buell outlined how the funds would help him expand his East Troy facility and take better advantage of his company's name and expertise. "The next step is to build a more affordable motorcycle," Buell said. "It’s very exciting actually to start over again. I really appreciate the opportunity we had with the old company because we got a lot of fans, we made quite a few motorcycles, we sold them worldwide and we also learned a lot. Now, getting a fresh start where we can be kind of independent and very much focused on the sport bike customer, is a real breakthrough for me and the team here,” he added.
According to the report the company is seeking to employ hundreds of additional staff and expand its operations to fill the entire 5000m2 East Troy facility. In light of such an expansion the US$20m injection is relatively small, but it should certainly lend some momentum to Buell's ambitions.
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Written byBikesales Staff
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