(Finance) – The Ministry of Business and Made in Italy has authorized the Extraordinary Commissioners of Piaggio Aero Industries and Piaggio Aviation, the two companies in extraordinary administration operating under the brand Piaggio Aerospaceto proceed with the sale of all company complexes to the Turkish company Baykar MakinaSanayi Ve Ticaret Anonim Sirketi, leader in the development and production of UAV (unmanned aerial vehicle) systems and advanced aerospace technologies.
Thus we arrive at one positive solution the dispute began in December 2018when Piaggio Aerospace – an Italian company active in the design, construction and support of aircraft and aeronautical engines for private, government and military operators – was admitted to the extraordinary administration.
As part of the last one open procedure for identifying a buyerhave arrived three definitive and binding offers by as many international industrial players for the purchase of all company complexes. After a careful comparative evaluation of the three offers received, Baykar’s proposal was judged the most suitable to guarantee the interests of employees and creditors of Piaggio Aero and Piaggio Aviation and to relaunch the Group’s industrial prospects. Baykar has in fact committed to maintaining and strengthening both the activities of aircraft production – including related technical, logistical and training support services – and the activities of engine maintenance and production of engine components.
“The relaunch of the company is guaranteed, with a clear and ambitious industrial vision”, stated the minister Adolfo Ursorecalling “after six years of waiting, we are giving back a future to Piaggio Aerospace, a strategic asset for our country, with a long-term production perspective, safeguarding company complexes and workforce”.
“We take note of the communication from Mimit which has chosen the proposal deemed most convincing. It is a starting point and not a point of arrival after a wait that has lasted since December 2018 when the commissionership phase began. Now we get to the heart of things and we hope that Mimit’s assessment corresponds, beyond the press releases, to those parameters that we as FIM Cisl Liguria had considered strategic such as full employment protection, the continuity of the production sites of Villanova d’Albenga and Genoa, with the maintenance of production assets and the willingness to make strong investments in human resources and research to relaunch a strategic company that over the years has lost high-profile professionalism, he stated Christian Venzanogeneral secretary FIM Cisl Liguriaafter having learned of the sale of the business.