Turkey's Baykar buys Piaggio Aero

(ANSA) - ROME, DEC 27 - Turkish defence and aerospace company Baykar on Friday bought troubled Italian plane maker Piaggio Aero.
    The Italian company, which designs, builds and supports aircraft and aeronautical engines, has been in extraordinary administration since December 2018.
    The Business and Made in Italy Ministry authorized the extraordinary commissioners of Piaggio Aero Industries and Piaggio Aviation to proceed with the sale of all business assets to the Turkish company, which is specialized in unmanned aerial vehicles and advanced aerospace technologies.
    "The relaunch of the company is guaranteed, with a clear and ambitious industrial vision", declared Minister Adolfo Urso.
    Piaggio Aerospace, formerly known as Piaggio Aero Industries, is a multinational aerospace manufacturing company headquartered in Villanova d'Albenga near Savona in Liguria.
    The company designs, develops, manufactures and maintains aircraft, aero-engines, aerospace components and aerostructures.
    Established in 1884, it is one of the world's oldest plane makers. (ANSA).