Piaggio Aerospace Finally Finds New Owner Italian manufacturer Piaggio Aerospace has finally secured a buyer for the company after a few years of searching for an entity to take over the business. The Ministry of Enterprises and Made in Italy in Italy has approved the takeover by Turkish giant Baykar. Baykar is one of the top exporters in Turkey amassing over 1.8 billion in exports.
With this new acquisition the Turkish company Baykar now will further expand its presence and influence in the European aviation market. At the same time they will be preserving Piaggio's historical legacy and enhancing its production capacity. Baykar's future vision includes growing the employment opportunities that Piaggio provides in Italy. This move adds to the global successes of Turkey's aviation industry and ensures that Piaggio's identity is built-up into the future.
Baykar is seen as the world's largest manufacturer of UCAVs (Unmanned Combat Aerial Vehicles). Baykar has garnered more than 90 per cent of its revenues from exports of these UCAVs delivering Bayraktar TB2 UCAVs and Bayraktar Akinci UCAVs to as many as 35 countries around the world. Baykar was able to successfully outbid all other entities bidding for the takeover of Piaggio Aerospace.
Noting that the company's relaunch was guaranteed with a clear and ambitious industrial vision, Italian Minister Adolfo Urso comments: “After six years of waiting, we are giving Piaggio Aerospace, a strategic asset for our country, a future with a long-term production perspective, safeguarding corporate complexes and workforce.” Piaggio Aerospace itself is best known for creating the Piaggio P180 pusher-prop aircraft and its Hammerhead military derivative. For more information: Piaggio Aero Viale Generale Disegna, 1 17038 Villanova d’Albenga (Savona, Italy) www.piaggioaerospace.it ***
