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Turkey's Baykar buys PiaggioAero and Piaggio Aviation

Both companies are in administration

Turkey's Baykar buys PiaggioAero and Piaggio Aviation

Redazione Ansa

(ANSA) - GENOA, JAN 27 - Turkish group Baykar on Monday signed a preliminary agreement to buy two Italian companies in extraordinary administration, Piaggio Aero Industries and Piaggio Aviation.
    The agreement was signed by Baykar CEO Haluk Bayraktar and the Ligurian-based companies' administrators, Carmelo Cosentino, Vincenzo Nicastro and Gianpaolo Davide Rossetti.
    Baykar is specialised in UAV (Unmanned Aerial Vehicles) systems and advanced aerospace technologies, while the Italian enterprises are engaged in the design, construction and maintenance of aircraft and aviation engines for private, public and military clients. (ANSA).
   

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