to reorganize and modernize its core operations. As a result, during the late 1970s and early 1980s, the company lost an average of $8 million per year. Some subsidiaries were sold, including Harley-Davidson in 1981. For a time, the Italian scuba diving equipment manufacturer Mares was part of AMF, and was able to secure the rights to the MR-12 regulator, previously made by Voit, and to continue manufacture of the regulator. Mares would revert to being an independent manufacturer after AMF was sold. It eventually became part of a worldwide consortium of sports equipment companies, including another former AMF division, Head. In 1985, AMF was acquired through hostile takeover by Minstar Inc., a Minneapolis-based holding company controlled by investor Irwin L. Jacobs, and Jacobs began selling off its various divisions. Commonwealth Ventures, a group of private investors in Richmond, Virginia, paid $225 million to purchase AMF's bowling centers and bowling products divisions in 1985 to form AMF Bowling Companies, Inc. (later known as AMF Bowling Worldwide). References External links Development of the Automatic Pinsetter nywf64.com (1964/1965 New York World's Fair Website) story of the AMF Monorail AMF Building in New York City Reprint of ad for AMF Atomics, Scientific American, May, 1956 American Machine and Foundry Manufacturing companies established in 1900 Conglomerate companies established in 1900 Manufacturing companies disestablished in 1985 Companies disestablished in 1985 1900 establishments in New York City 1985 disestablishments in the United States