Floods force MV to close

Workers had just returned the MV Agusta factory after a lay-off of several months, when heavy rain in Italy has caused Lake Varese to burst its banks and forced them out again.

The local fire department advised the factory to shut down the site responsible for producing its 750cc in-line four motors, on the grounds that with the waters rising there was a high risk of electric shocks to workers.

Employees had been on standby while the company resolved its future with creditors and the courts. A new deal gives the company another two years to turn its fortunes around.