Bultaco was a Spanish manufacturer of two-stroke motorcycles from 1958 to 1983. In May 2014, a new Bultaco was announced.The origin of the Bultaco motorcycle company dates from May 1958. Francesc "Paco" Bultó was a director of the Montesa motorcycle company, founded in 1944. After several years of steady growth and road racing success, in 1957 Montesa moved to larger facilities. The move was protracted, disrupting production and was followed by a downturn in the Spanish economy. This slump brought to a head disagreements between Bultó and the other senior director Pere Permanyer. As an economy measure, Permanyer (the majority shareholder) felt that the company should withdraw from racing. Bultó, the driving force behind the racing program and responsible for much of the company’s technical expertise was vehemently opposed. Failing to reach a compromise, Bultó decided to leave Montesa to concentrate on his other business interests. Perhaps unsurprisingly, the majority of Montesa's racing department left shortly afterwards as well.