India-based manufacturer Hero, acquires more of EBR

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Staff | July 29, 2015

EAST TROY--More of Erik Buell Racing's assets will be purchased by the India-based Hero MotoCorp., according to a Milwaukee Journal Sentinel story.

Hero MotoCorp. of New Dehli, the largest motorcycle manufacturer in India,  will spend $2.8 million on the assets of the high performance bike company in East Troy that abruptly shut down in April, leaving 130 employees  out of work .

Hero had acquired a 49.2 percent stake in EBR in 2013.

According to the story, EBR was doing work for Hero when the shutdown occurred, and the acquisition settlement will allow certain projects for Hero to be completed.

Hero's current agreement with EBR must be approved by the Walworth County Circuit Court, which is handling EBR's liquidation.

The EBR auction originally slated for July 21 was adjourned and rescheduled for Wednesday, Aug. 5 at the Milwaukee Athletic Club, according to the story.

On Aug. 5, a hearing will be held in Walworth County Circuit Court to approve the results of the auction.

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