With a discover revealed right this moment in a particular variety of monetary newspapers, and after receiving the related authorization from the Italian Ministry of Financial Improvement, the Extraordinary Commissioner Vincenzo Nicastro formally reopened the bidding course of for the sale of the enterprise complexes of Piaggio Aero Industries and its subsidiary Piaggio Aviation, the 2 firms, at present beneath Extraordinary Administration, working beneath the Piaggio Aerospace model. Those that shall be fascinated by shopping for the corporate must ship their expressions of curiosity to the Extraordinary Commissioner no later than February 28, 2022. The complete discover is on the market on the Internet Web site of the Extraordinary Receivership.
“Discussions with quite a lot of counterparties are nonetheless ongoing, however we wish to ensure we are able to assure a long-term future to the corporate”, Nicastro mentioned. “That’s why we’re formally beginning the sale course of once more. However not from scratch: The preparatory work on the information room is already performed, whereas now we have set very tight deadlines for the due diligence and bid submission phases, with a view to pace up the method as a lot as potential. As at all times, we’ll fastidiously consider all of the provides that shall be submitted “, he added,” verifying that they’re in keeping with the bid necessities: the target is promoting Piaggio Aerospace in its entirety to a purchaser who will be capable of suggest a strong plan for the relaunch and growth of the corporate and who will acknowledge its honest worth”.
Commercial
Within the meantime, Piaggio Aerospace closed one among its finest latest monetary years: the turnover reached EUR 152 million with an order e book of roughly 500 million euro and new contracts nonetheless to be formalized for additional 180 million euro. Piaggio Aerospace – which additionally controls the subsidiary Piaggio America in america – operates within the Aviation and Engine sectors. Particularly, the Plane enterprise unit focuses on the design, building and upkeep of civil and navy plane, together with customer support actions. The Engine enterprise unit revolves across the building and upkeep of aero-engines.
Piaggio Aerospace, previously Piaggio Aero Industries, is a multinational aerospace manufacturing firm headquartered in Villanova d’Albenga, Italy. Established in 1884 as Rinaldo Piaggio S.p.A., it shares its ancestry with motorcar producer Piaggio and is without doubt one of the world’s oldest plane producers, having produced its first plane throughout 1915. The corporate’s services had been rebuilt following the Second World Warfare and a number of other unique designs, together with the P.136 seaplane, the P.149 coach plane, and the P.166 utility transport, had been launched in the course of the first twenty years of the postwar period. Through the Sixties, Piaggio started manufacturing jet engines as nicely. Throughout 1966, the enterprise was separated into the aviation-focused Piaggio Aero and the motor scooter producer Vespa.
