The LML-Piaggio Break-Up
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Case Details:
Case Code : BSTR006
Case Length : 7 Pages
Period : 1998-1999
Organization : LML, Piaggio
Pub Date : 2002
Teaching Note : Available
Countries : India
Industry : Automobile & Automotive
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Piaggio -LML - A Profile
Piaggio, established in 1884 in Pontedera, (Pisa, Italy), was one of the world's leading producers of motorized two-wheeled vehicles.
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A leader in the European two-wheeler market, the company was also a manufacturer of three- and four-wheeled light transport vehicles and engines.
The Piaggio family owned the company until December 1999, after which Morgan Grenfell Private Equity, a member of the Deutsche Bank Group, acquired 81.5% stake.
The remaining 18.5% stake was held by Umberto Agnelli3 (10%), and Texas Pacific Group (8.5%). Piaggio entered the Indian automobile market in 1948, by launching its two-and three-wheelers in Mumbai.
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Very soon, the company signed a licensing agreement with Bajaj Auto for the production of two- and three- wheelers locally.
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Piaggio had many firsts to its credit. It was the first European manufacturer to launch a 4-stroke scooter in 1995. In 1997, the company produced the first and only scooter in the world with an injected 2-storke engine, - Vespa ET2 Injection. This scooter, it was claimed to reduce emissions by up to 70% and fuel consumption by up to 30%, as compared to other scooters. In 2000, Piaggio was the first European manufacturer to introduce a 50cc 4-stroke engine. It also developed the innovative range of four stroke LEADER (Low Emission Advanced Engine Range) engines, which included engines of 125 to 180 cc with air or liquid cooling and two or four valves. Lohia Machinery Ltd. (LML), established in 1975 in Kanpur, was a manufacturer of textile machinery... |
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