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Indian Motorcycle Corporation


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Gilroy, CA - How ironic that the very year Harley-Davidson

celebrates its 100th anniversary that Indian Motorcycle Corporation

would shut its doors.

As of Friday, September 19, 2003, Indian closed its Gilroy,

California factory doors, sending their 350-plus employees home,

stating that there would be no company-saving deal with a new

investor. The deal was said to be in the "eight-digit" range.

 

It was in June 2001, that Indian Motorcycle Company announced it had

completed the sale of up to $45 million of preferred stock to Audax

Group, a private equity firm based in Boston, MA. That deal brought

Fran O'Hagan to Indian, who recently served as Executive Vice

President.

 

Sources within the company state that Indian was anticipating sales

of 4500 motorcycles this year.

 

ps. Mesaj dat de Nelu Banica pe mailing-list.

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