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.
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