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LORIA, Italy – ITM has found a new owner who is to continue the renowned Italian producer of handlebars, stems, seatposts and forks. Last month Bike Europe reported the voluntary liquidation of the company.

Today it is reported that the Italian parts maker has found a new owner that is to take over Italmanubri’s bicycle division; ITM’s furniture-tubing part was already sold off to a company in the furniture business.

Sources at Italmanubri are not able to reveal the identity of the new owner just yet as the last contract details still have to be finalized. However, these sources also indicate that the deadline for the sale of the brandname ITM and the machinery is end of July and that before the end of the month everything will be settled.

ITM has booked a booth at Eurobike. It is expected that at the Show the industry will be informed about the future of the company by its new owner.

See also: Correction: ITM Still Negotiating