Negotiations for the purchase of Piaggio Aerospace have failed

The proposal and exclusive negotiation for the acquisition of Piaggio Aerospace by the Italo-Swedish group formed by the Scandinavian fund Summa Equity and three companies active in the aeronautical sector, the Norwegian Heart Aviation, AgTech and Phase Motion Control, both based in Liguria, have failed.

In fact, the proposal put forward by the potential purchaser was judged not congruous by the Ministry of Economic Development (MiSE.) and by the extraordinary commissioner of Piaggio Aerospace, Vincenzo Nicastro.

The choice of the Italo-Swedish group of companies had come at the end of a careful analysis of the proposals received by the commissarial structure to take over Piaggio Aerospace.

But the industrial and financial grouping headed by Summa Equity did not want to conclude the negotiations granted on an exclusive basis.

In the face of this negative outcome, the issue of the sale of Piaggio Aerospace returns to the hands of the extraordinary commissioner Vincenzo Nicastro and the Ministry of Economic Development.

According to union sources, the stop to the exclusive negotiations with the Italian-Scandinavian grouping would have been determined also by the choice of the Ministry of Defence to use the 160 million euros (later increased to 171 million), initially allocated to complete the development program and obtain certification of the P1HH drone closely derived from the P-180, in the purchase of 6 P-180 EVO for inter-ministerial transport needs.

Obviously, this industrial development has sent the trade unions into a tizzy, asking for an urgent meeting with the company’s top management to find out about the new scenarios, as well as the activation of the MiSE for the defence and re-launch of Piaggio Aerospace in its entirety, with a guarantee of full employment for the 900 employees, the valorisation of the industrial plants and the induced activities, in the aircraft sector and in the engine sector (maintenance and overhaul).

According to the last contract signed at the end of September with the Ministry of Defence, Piaggio Aerospace will have to supply, in addition to the six P-180 EVOs, also a flight simulator and has obtained the extension of the contract for the maintenance of the Viper engines of the MB-339 aircrafts used by the Pattuglia Acrobatica Nazionale (PAN) of the Italian Air Force.

With the six “ministerial” P-180 EVOs, the total number of EVOs ordered also by the civil market as of October 1 is 20 aircraft to be fitted out, with important industrial and employment repercussions on the entire aircraft production chain.

Immagine di copertina: Piaggio P-180 Avanti in in-flight demonstration at Rennes AirShow 2010

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