Harley-Davidson to purchase cast motorcycle wheel supplier.
Harley-Davidson Inc., Milwaukee, announced that it has entered into a business sales agreement to purchase the majority of the assets of Castalloy, North Plympton, Adelaide, Australia, its supplier of cast motorcycle motorcycle, motor vehicle whose design is based on the bicycle. The German inventor Gottlieb Daimler is generally credited with building the first practical motorcycle in 1885. The motorcycle did not become dependable and popular, however, until after 1900. wheels and hubs.
The U.S. motorcycle manufacturer has had a long business relationship with the supplier, which has been in voluntary administration since late 2004 as part of the insolvency insolvency
Condition in which liabilities exceed assets so that creditors cannot be paid. It is a financial condition that often precedes bankruptcy. In the context of equity, insolvency is the inability to pay debts as they become due; insolvency under the balance-sheet of Ion Automotive Ltd., Hawthorn, Victoria Hawthorn is a residential suburb of Melbourne, Australia, in the state of Victoria. It is in the Local Government Area of the City of Boroondara.
Though the nearby Swinburne University of Technology, which offers university and TAFE courses, has conferred numerous student , Australia.
Under terms of the arrangement, Harley-Davidson is establishing an entity called New Castalloy as a wholly-owned manufacturing operation. New Castalloy is expected to employ approximately 300 people at the North Plympton site. Harley-Davidson expects to close on the transaction, which is contingent on Adj. 1. contingent on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress"
contingent upon, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the completion of certain arrangements and obtaining operating licenses, toward the end of September.
"Castalloy has been a valued supplier to Harley-Davidson for more than two decades," said Matt Levatich, Harley-Davidson vice president of materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, . "We carefully assessed our sourcing options for this critical motorcycle component going forward, and Castalloy demonstrated unique capabilities."