Piaggio Aerospace, 19 expressions of interest presented: requests from North America, Europe and the Far East

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                            Villanova d’Albenga. There are 19 expressions of interest, accompanied by the substantial documentation requested, received by Commissioner Vincenzo Nicastro for the purchase of the business complexes of Piaggio Aero Industries and Piaggio Aviation, the two companies under extraordinary administration operating under the Piaggio Aerospace brand. The deadline for submitting the necessary documents had expired at 18 on 29 May.

“We have received requests from all parts of the world – explains Nicastro – with greater concentration from North America, Europe and the Far East. A result that confirms the market’s interest in the group and its development potential, despite the crisis produced by the pandemic that has probably deterred some potentially interested parties “.

According to Nicastro, who will proceed in the next few days to the detailed analysis of the documentation produced to establish eligibility for the tender, the vast majority of subjects are interested in taking over the company in its entirety.

The companies that have the necessary requirements will then be admitted to the data room, so that they can thus assess in detail the value of Piaggio Aerospace and present, if interested, the relevant binding offers. We will then move on to the final phase of selecting the buyer.

The primary objective, as repeatedly affirmed by Commissioner Nicastro, remains to find a new owner for Piaggio Aerospace, hopefully in its entirety, by the end of the year.

With the recent award of the new multi-year contract by the defense for the integrated logistical support of the entire fleet of P.180s supplied to the armed forces, Piaggio Aerospace presents itself to potential buyers with an order book in progress that now reaches 640 million of Euro. Other orders, for an additional amount of 260 million euros, are in various stages of negotiation. The total should therefore reach 900 million euros.

Alessandro Vella, general secretary of Fim Cisl Liguria, comments: “Expressions of interest are a tangible sign of a company that, although in extraordinary administration, has important development prospects. We have always supported it thanks to the excellence of know-how of the 1000 workers of the two sites in Liguria of a company that has always been highly technological. A company considered strategic for our country that has not yet had the go-ahead for the P1HH program. It would really be an incomprehensible choice by the government not to finance the certification of P1HH (cost about 70 million) with the related ground station and the first two remotely piloted aircraft with 160 million “.

“With the official expressions of interest we will understand in the coming months which companies are admitted who will have presented an industrial development plan that holds the whole Piaggio Aero together. The hope is that among these there may be a proposal from a company of excellence such as Leonardo. Piaggio aero today can count on an important order backlog with the new institutional P180s and retrofits, the most important part of the engine contracts plus the recent logistics support contract (around 900 million) “.
->Villanova d’Albenga. There are 19 expressions of interest, accompanied by the substantial documentation requested, received by Commissioner Vincenzo Nicastro for the purchase of the business complexes of Piaggio Aero Industries and Piaggio Aviation, the two companies under extraordinary administration operating under the Piaggio Aerospace brand. The deadline for submitting the necessary documents had expired at 18 on 29 May.


“We have received requests from all parts of the world – explains Nicastro – with greater concentration from North America, Europe and the Far East. A result that confirms the market’s interest in the group and its development potential, despite the crisis produced by the pandemic that has probably deterred some potentially interested parties “.

According to Nicastro, who will proceed in the next few days to the detailed analysis of the documentation produced to establish eligibility for the tender, the vast majority of subjects are interested in taking over the company in its entirety.

The companies that have the necessary requirements will then be admitted to the data room, so that they can thus assess in detail the value of Piaggio Aerospace and present, if interested, the relevant binding offers. We will then move on to the final phase of selecting the buyer.

The primary objective, as repeatedly affirmed by Commissioner Nicastro, remains to find a new owner for Piaggio Aerospace, hopefully in its entirety, by the end of the year.

With the recent award of the new multi-year contract by the defense for the integrated logistical support of the entire fleet of P.180s supplied to the armed forces, Piaggio Aerospace presents itself to potential buyers with an order book in progress that now reaches 640 million of Euro. Other orders, for an additional amount of 260 million euros, are in various stages of negotiation. The total should therefore reach 900 million euros.

Alessandro Vella, general secretary of Fim Cisl Liguria, comments: “Expressions of interest are a tangible sign of a company that, although in extraordinary administration, has important development prospects. We have always supported it thanks to the excellence of know-how of the 1000 workers of the two sites in Liguria of a company that has always been highly technological. A company considered strategic for our country that has not yet had the go-ahead for the P1HH program. It would really be an incomprehensible choice by the government not to finance the certification of P1HH (cost about 70 million) with the related ground station and the first two remotely piloted aircraft with 160 million “.

“With the official expressions of interest we will understand in the coming months which companies are admitted who will have presented an industrial development plan that holds the whole Piaggio Aero together. The hope is that among these there may be a proposal from a company of excellence such as Leonardo. Piaggio aero today can count on an important order backlog with the new institutional P180s and retrofits, the most important part of the engine contracts plus the recent logistics support contract (around 900 million) “.



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https://www.ivg.it/2020/06/piaggio-aerospace-presentate-19-manifestazioni-di-interesse-richieste-da-nord-america-europa-e-estremo-oriente/

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