MILAN ITALY, – November 10, 2009 – (Motor Sports Newswire) - S&T Motors /“HYOSUNG” Motorcycles (KSE000040) of Korea announced today at a 2009 EICMA motorcycle show press conference that S&T will partner with ATK Motorcycles company on several important strategic projects.
The goal of the partnership is to strengthen the competitive position of both companies and provide tangible benefits to customers, dealers, suppliers and shareholders. Each company will continue to be run separately, but will work together on several specific cooperative projects involving new product development, distribution, manufacturing, and purchasing.
“This partnership is a very natural fit for both of us.” added Dr. Taekwon Kim, CEO of S&T Motors Korea. Mr. Frank White, ATK CEO commented, “S&T and ATK complement each other well and we are very excited about our new relationship. By joining forces, we believe we can strengthen our distribution network, reduce our production costs, spread development costs and substantially accelerate our entry into the street bike business. We also look forward to sharing some of our off-road technology with S&T. The ATK and S&T management teams should work well together – both companies are driven by innovation, passion, quality and demand for success.”
“I believe this partnership will provide substantial benefits to S&T and ATK and both company’s dealers, employees, suppliers, and shareholders for years to come.” Said Taekwon Kim. “We have long admired ATK and are excited about working together to strengthen both companies. S&T can benefit from ATK’s substantial experience in the American motorcycle market and ATK’s presence inside the Harley Dealer network.”
According to Frank White, “there will be some differentiation between S&T branded products and the ATK branded products. S&T will send parts from Korea and we will integrate those with our own American and European parts. These American-Utah assembled motorcycles will be targeted to be sold through a select group of Harley-Davidson Dealers who are looking for a quality smaller displacement motorcycle to be sold under the US ATK brand name.” Frank White went further to comment, “The management at Harley-Davidson knows what we are doing with some of their dealers, however, they do not endorse our activities in any way.”
About S&T Motors Co., Ltd.
S&T Motors is the largest motorcycle manufacturer in Korea. Started in 1978, S&T has been manufacturing “Hyosung” branded motorcycles ranging from 250cc to 650cc, exporting to Asia, Australia, North & South America and Europe, totaling more than 60 countries worldwide. S&T Motors is to display a total of 15 models, including the GV700-Classic at the EICMA 2009 Motorcycle Exhibition. The GV-700 Classic was solely developed by S&T R&D Department. The features of this model include traditional cruiser styling, powerful engine, neutral handling, and comfortable riding position which makes it perfect for long distance cruising. S&T will focus on GV700-Classic sales and the bikes will be available in dealerships for 2010.
In addition to the GV-700 Classic, S&T Motors launched its first-ever electric scooters in Milan. Two units include the GEM-2.0 (2Kw) and GEM-4.0 (4Kw). The GEM-2.0 and GEM-4.0 will be available in late 2010.
ATK is best known for its racing legacy. The first ATK conceived in 1985 won the legendary Barstow to Vegas Off-Road Motorcycle Race and since then has won multiple AMA National off-road and Dirt Track Championships. ATK is the second oldest continuously running US motorcycle manufacturer and currently is the only US based off-road motorcycle manufacturer. Over the past 25 years ATK has manufactured over 15,000 Motorcycles / ATV’s with a small staff of individuals in the Salt Lake City Utah area. ATK has been a pioneer in innovation and technology advances including being the first motorcycle company to introduce fuel injection back in 1991. In 2003 ATK purchased all the parts from the publically traded Cannondale Motorsports Corp and for the past five years has focused on refining the platform and making it much more reliable.
ATK is a privately owned company with the two principle shareholders being Frank White ATK CEO and Malcolm Zanca, owner and operator of multiple Harley-Davidson Dealerships. Zanca is also a former two-time Harley-Davidson Dealer Advisory Chairman. The balance of the shareholders being individual Harley-Davidson Dealers.
For more information on ATK visit their website: www.atkusa.com