![Piaggio Aerospace, the Italian manufacturer of the Avanti Evo, is officially on the block and hopes to find a buyer and close the deal by year-end. (Photo: Piaggio Aerospace) Piaggio Avanti Evo](https://bjtonline.com/sites/bjtonline.com/files/styles/bjt30_article_large/public/uploads/2020/02/piaggio_evo_page-1.jpg?itok=5eSMKUGV×tamp=1582756749)
Piaggio Aerospace Is For Sale
In case you’re looking for an investment opportunity.
Piaggio Aero Industries, including subsidiary Piaggio Aviation, is for sale. The company hopes to find a buyer and close the deal by year-end, it announced recently. The sale of the two companies—currently under “extraordinary administration” and operating under the Piaggio Aerospace brand—follows authorization from the Italian Ministry of Economic Development.
Piaggio Aerospace, which also controls U.S. subsidiary Piaggio America, does business in the aviation and engine segments. The former focuses on the design, construction, and maintenance of civil and military aircraft, while the latter builds and maintains aero engines.
"Just over a year since the extraordinary administration started, we have succeeded in creating a respectable order intake, which makes the company attractive for a buyer," said Nicastro. "We shall rigorously evaluate each of the offers that will reach us, with the aim of selling the company in its entirety and finding a buyer who can offer a solid, long-lasting recovery and development plan."
Piaggio Aerospace said it has approximately €450 million ($490 million) of orders in hand, with an equal amount pending.