Pexco Co-Owner KTM Industries AG Renamed Pierer Mobility AG
MATTIGHOFEN, Austria – The name change to Pierer Mobility could end the confusion between the companies KTM Industries AG and KTM Fahrrad GmbH. The Executive Board of KTM Industries AG recently proposed to rename itself Pierer Mobility AG. The Austrians apparently no longer want a similar brand and company name. An Extraordinary General Meeting this autumn will decide about the name change.
Unlike before, KTM Industries AG is no longer the core brand KTM Motorrad only. Since 2013 it also includes Husqvarna Motorcycles, which has been part of the Group since 2013, the motorcycle component brand WP and, since 2017 also the e-bike brands Husqvarna Bicycles and R Raymon, distributed by Pexco GmbH.
The name change to Pierer Mobility AG does not mean a brand name will be upfront, but rather the name of the entrepreneur and KTM Industries CEO Stefan Pierer. Or as the statement of the Mattighofen, Austria based company headquarters, puts it “The renaming would express the sustainable and stable role of the majority shareholder in the company name”.
A KTM Industries AG group overview dated 30 June 2019 at the bottom of this page, shows that the company holds a 40 percent share of Pexco GmbH. Also, the Puello family holding named ‘Platin 1483 GmbH’ owns 40 percent of the Pexco shares. The remaining 20 percent is held by Pierer Industrie AG, managed by Stefan Pierer.
Before Eurobike Susanne Puello already confirmed to Bike Europe that her family still holds an interest in Pexco GmbH and also intends to continue to do so.
More acquisitions and alliances announced
Motorcycle and e-bike supplier KTM Industries AG reports increasing sales in volume and value in the half of 2019. “Further acquisitions and alliances, among other things, will further secure the company’s expansion strategy,” was noted by the Austrians in their half year report.
KTM Industries’ consolidated sales in the first half of 2019 increased by 4.2 percent to 754.9 million euro. At 46.6 million euro, the operating result (EBIT) was ‘well above budget’. Compared with the first half of 2018, sales volume of motorcycles increased by 7 percent to 135,711 units.
In June 2019 KTM Industries announced plans with Bajaj Auto Ltd to develop electric powered two-wheelers in the range between 3 and 10 kW (48 Volt). “The new platform will support various products both powered two-wheelers and electric bicycles,” was stated by both companies. Series production will start at the Bajaj production site in Pune, India by 2022. This would be a further important step to strengthen the cooperation with Bajaj.