Piaggio Aerospace receives 19 initial bids to sale of is business

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Piaggio Aerospace has received 19 expressions of interest in buying its business after a call for bids issued in February this year.

The company’s two business units, Piaggio Aero Industries and Piaggio Aviation have been in extraordinary administration since 2018. A call for expressions of interest (EOI) to buy all or part of the businesses was originally set for April 3, but was extended to May 29 because of the Covid-19 pandemic.

Vincenzo Nicastro, the extraordinary commissioner for Piaggio said, “EOIs were submitted from all over the world. In particular from North America, Europe and the Far East. This confirms the interest in the group and its growth potential, although some possibly interested parties could have been discouraged by the current pandemic”.

According to Nicastro, who will examine the files to assess their eligibility to the tender, most of the applicants are interested in purchasing the whole group and his goal is to find a new owner for the whole company by the end of the year.

Piaggio Aerospace, which also controls the subsidiary Piaggio America in the USA, operates in the aviation and engine sectors and focuses on the design, construction and maintenance of civil and military aircraft, along with customer service activities.T

The company recently received a boost in the form of a long-term contract with the Italian Ministry of Defence to support the Italian Armed Forces’ P.180 air fleet.

 

 

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Ben has worked all of his career as a journalist and now editor, covering almost all aspects of technology, engineering and industry. In the last 20 years he has written on subjects from nuclear submarines and autonomous cars to future design and manufacturing technologies and commercial aviation. Latterly editor of a leading engineering magazine, he brings an eye for a great story and lots of experience to the team.

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