ROME, Dec 27 (Reuters) – Turkish drone maker Baykar has purchased Italian plane producer Piaggio Aerospace, Italy’s business 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 supply for the corporate had been most popular over two different ultimate and binding bids from worldwide gamers.
It was deemed the “most suited to ensure the pursuits of employees and collectors (of Piaggio Aerospace) and relaunch the group’s industrial prospects”, the ministry mentioned.
Baykar pledged to take care of and develop the manufacturing of plane and associated technical assist, coaching and logistics actions, in addition to engine upkeep and engine part manufacturing, the assertion added.