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Turkish drone maker Baykar buys Italy’s Piaggio Aerospace
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ROME (Reuters) – Turkish drone maker Baykar has bought Italian aircraft producer Piaggio Aerospace, Italy’s industry ministry said on Friday, without disclosing financial details.
ROME (Reuters) – Turkish drone maker Baykar has bought Italian aircraft producer Piaggio Aerospace, Italy’s industry ministry said on Friday, without disclosing financial details.
Piaggio Aerospace – unconnected to Vespa scooters maker Piaggio – had been under government-controlled special administration since filing for protection from creditors in 2018.
In a statement, the ministry said Baykar’s offer for the company had been preferred over two other final and binding bids from international players.
It was deemed the “most suited to guarantee the interests of workers and creditors (of Piaggio Aerospace) and relaunch the group’s industrial prospects”, the ministry said.
Baykar pledged to maintain and expand the production of aircraft and related technical support, training and logistics activities, as well as engine maintenance and engine component manufacturing, the statement added.
(Reporting by Alvise Armellini, editing by Gianluca Semeraro)
A drone is an unmanned aerial vehicle (UAV) that can be controlled remotely or fly autonomously using software-controlled flight plans. Drones are often used for various applications, including surveillance, delivery, and aerial photography.
Technical support refers to services provided to assist users in resolving technical issues with products or services, often involving troubleshooting, maintenance, and guidance on usage.
Aircraft manufacturing is the process of designing, producing, and assembling aircraft. This includes various components such as airframes, engines, and avionics systems.
Financial disclosure is the process of providing relevant financial information about a company to stakeholders, including investors and regulatory bodies, to ensure transparency and compliance with laws.
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