Monday, December 14, 2009

Voxan's Future: FIL Holding or SODEMO Eng.

The Issoire Commerce Tribunal was to have decided upon the future of Voxan motorcycles Friday, December 11th. Placed under judicial administration/reorganization since September 2 last, the corporation saw its hopes for a clear path pushed forward to this Friday, the 18th. The two potential rescuers presented incomplete files.

Among the two potential bidders is Luxembourg based real estate holding firm FIL. As their primary focus suggests, this organization is not really specialized in the industry but would have brought solid financial guarantees and according to the newspaper La Montagne, the offer was judged to be "extremely interesting". The rescuers would purchase shares of Voxan for 10 million euros and invest an additional 8 million euros per year for the next 3 periods. The current workforce would be maintained and eventually expanded by 10 personnel.

On the opposite side, an offer emanating from SODEMO, well known for its engineering talents. Located adjacent to the Magny-Cours racing circuit, it is well familiar with the 1000 cm3 twin having been involved with the initial development. The principal activity of Voxan however would logically would be transferred to Nièvre, home of SODEMO.

Despite these impressive offers coming in, the president of the board of directors of the Voxan, Eric Terraces is keeping his calm: "As long as one nothing signed, I will not scream victory... I hope that the final documents arrive quickly to the court. The climate is heavy for the employees, one hopes all to be set up before the new year." Eight Voxans have been ordered since the launch of the most recent model, the VX 10. "Maybe the 34 million [offered by FIL] will help our orders take off!", jokes Terraces.

While awaiting the final official announcement, the overall experience shows that it takes more than just good words to keep a stunning French motorcycle company open to the general public and on its wheels.