Piaggio Aerospace authorized to call for expressions of interest on sale of business

Italy based Piaggo Aero Industries space has announced after receiving authorization from the Italian Ministry of Economic Development, the company has launched an international call for the sale of its business complexes, the company said.

Piaggo Aero Industries and its subsidiary operate under the Piaggio Aerospace brand.

Piaggio Aerospace goes to potential buyers with approximately EUR 450m in orders in execution, to which further agreements will shortly be added for a value of EUR 450 million, thus bringing the total order intake to approximately EUR 900 million.

Piaggio Aerospace – which also controls the subsidiary Piaggio America in the United States – operates in the Aviation and Engine sectors. In particular, the Aircraft business unit focuses on the design, construction and maintenance of civil and military aircraft, along with customer service activities. The Engine business unit revolves around the construction and maintenance of aero-engines.