Piaggio Aerospace re-launches, go-ahead from Mise. And now the search for a new owner begins

The extraordinary commissioner of the company, Vincenzo Nicastro: "The goal is to complete the entire process by the autumn of next year"

Genoa – The program for the re-launch of Piaggio Aerospace and the subsequent identification of a new owner received green light from the Ministry of Economic Development, which formally authorized its execution. The same is announced extraordinary commissioner of the company, Vincenzo Nicastro: "We can start the procedure for an international call for a buyer and accelerate the sales process of company complexes", said Nicastro, stressing that now "the goal is to find a new owner that is interested in taking over the company in its entirety and to be able to complete the entire process by the autumn of next year "

The company, which is based in Villanova d’Albenga (SV), has entered into Extraordinary administration in December 2018, a procedure to which the subsidiary Piaggio Aviation was subsequently attracted. Piaggio Aerospace presents itself to potential buyers with a significant order backlog, which reaches the total figure – thanks to contracts coming mainly from the Italian institutional world – of 832 million euros.

The start of the relaunching process of the company had positive effects also on the employment front: starting in September a gradual and progressive reabsorption of the employees into CIGS (Extraordinary Earnings Compensation Fund) was started. "From the moment the institutional contracts are signed – the company explains – this reabsorption will be accelerated, until the progressive and complete return of the entire workforce".