Take Over of Vuelta International

BOLOGNA, Italy - Vuelta International has been taken over. The renowned Italian rim & wheelmaker is now owned by a private investment company called Ethica that recently acquired 60% of all shares from Moreno Fioravanti, founder of Vuelta International, for a total amount of Euro 2.5 million. Reason for the take over, are the financial troubles Vuelta International faced in 2005 and early this year.