ROME, Dec 27 (Reuters) – Turkish drone maker Baykar has purchased Italian plane producer Piaggio Aerospace, Italy’s trade ministry mentioned on Friday, with out disclosing monetary particulars.
Piaggio Aerospace – unconnected to Vespa scooters maker Piaggio – had been underneath government-controlled particular administration since submitting for defense from collectors in 2018.
In a press release, the ministry mentioned Baykar’s provide for the corporate had been most popular over two different closing and binding bids from worldwide gamers.
It was deemed the “most suited to ensure the pursuits of staff and collectors (of Piaggio Aerospace) and relaunch the group’s industrial prospects”, the ministry mentioned.
Baykar pledged to take care of and increase the manufacturing of plane and associated technical help, coaching and logistics actions, in addition to engine upkeep and engine element manufacturing, the assertion added.
