Kawasaki pulls out of MotoGP

01-10-2009 | AFP

The company is redistributing resources due to the economic crisis

Panama Star TOKYO. Japan's Kawasaki Heavy Industries said Friday it will withdraw from the MotoGP racing circuit as the global economic crisis pressures the firm to cut costs.

"The effect of the current financial crisis on the global economy is extremely significant and an extended period of time is required for a recovery," Kawasaki said in a statement.

"We saw the need for efficient redistribution of our management resources and have decided to forgo participation in the Moto GP from 2009 on."