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News: Latest On Piaggio Aerospace

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  1. Update on Piaggio Aerospace
    Potential candidates were narrowed down to one entity with interest in taking over Piaggio Aerospace. That single entity stalled and doesn't appear to be moving forward in any way. The extraordinary commissioner for Piaggio Aerospace is now going to reopen bidding for the company. Extraordinary commissioner Vincenzo Nicastro said, "Negotiations have simply stalled, as no binding offer has ever been submitted." As a reminder, Piaggio Aerospace went into extraordinary receivership in 2018. It is now the end of 2021 and a buyer still cannot be found for the company which comprises of Piaggio Aero Industries and Piaggio Aviation.
  2. While the process of attracting the right buyer to take over the company has been long and arduous the company is keeping busy with the help of maintenance contracts of the Piaggio pusherprop it manufactures. As for the single potential investor said to be Swedish based, they did not meet the conditions for the sale. "The potential investor made us just aware of what the conditions would be for the purchase. These conditions were…not consistent with the tender rules they had formally accepted and were linked to events that were difficult to happen", said Nicastro. In the next few weeks details concerning the new bidding will be released.

    For more information:

    Piaggio Aero
    Viale Generale Disegna, 1
    17038 Villanova d’Albenga
    (Savona, Italy)

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