India's Tata Invests In Piaggio Aero | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 12.17.14 ** HD iPad-Friendly -- Airborne 12.17.14 **
** Airborne 12.15.14 ** HD iPad-Friendly -- Airborne 12.15.14 **
** Airborne 12.12.14 ** HD iPad-Friendly -- Airborne 12.12.14 **

Mon, Oct 06, 2008

India's Tata Invests In Piaggio Aero

Company Acquires Approx. 1/3 Stake In Planemaker

The cat was already out of the bag by the time Piaggio Aero executives had the chance to share their big news at NBAA 2008... as news of the company's newest shareholder had already made the rounds in the financial wires last week.

Piaggio introduced S.A. Hasan, Managing Director of Tata Limited UK, a branch of India's massive Tata industrial conglomerate. Tata Ltd. will acquire a roughly 1/3 stake in the Italian planemaker, complementing current stakeholders Mubadala Development of the UAE, and the Ferrari and Di Mase families.

"We are really honoured that Tata Limited has chosen to invest in Piaggio Aero Industries, becoming our co-primary shareholder," Piero Ferrari, Piaggio Aero Industries Chairman, said last week. "We are heavily engaged in strategic planning for the development of the company. Tata Limited’s involvement in our projects would be extremely gratifying and allow us to increase the success of recent years. The future for Piaggio Aero is bright and with the support of world-class investors and strategic partners like Mubadala Development Company and Tata Limited” .

During Sunday's formal announcement at NBAA, Tata Limited UK Managing Director S.A. Hasan couched the importance of the announcement in stark terms. "Today is my 39th wedding anniversary. My wife's in London, and I'm here," he told attendees, to sympathetic chuckles.

Tata's investment injects a healthy dose of capital into Piaggio Aero, as it works to ramp up production of the popular, but labor-intensive, P180 Avanti II. Piaggio officials report a roughly two-year backlog, based on current production goals of delivering 30 aircraft in 2008, increasing to 38 in 2009 and 45-50 in 2010.

In return, Tata's involvement in Piaggio bolsters that company's industrial offerings -- giving it a small, but significant, presence in the global aircraft marketplace. Hasan added the partnership will also open new markets for the Avanti II, India being but one.

Officials with both entities said the investor has already won regulatory approval, with the formal go-ahead expected later this month.

FMI: www.tata.com, www.piaggioaero.com

Advertisement

More News

Airborne 12.15.14: A380 Future, More USA Today Disappointments, Jetman FORMATION

Also: Comet Water Differences, Garmin Datalink, Bogert Battery Boxes, WSI/iOs, Mistletoe Copter Fail Airbus hasn't seen a single airline order for its double-decker A380 superjumbo>[...]

Aero-News: Quote Of The Day (12.17.14)

“There is no sport equal to that which aviators enjoy while being carried through the air on great white wings.” Source: Wilbur Wright.>[...]

Classic Aero-TV: Going Global At WAI 2011 - Growing Aviation In Nigeria (Part 2)

Inspirational People Encountered At WAI2011 While at the Women In Aviation Conference 2011, ANN CEO and Editor-In-Chief, Jim Campbell, had the unique opportunity to sit down and ta>[...]

AD: Dassault Aviation Airplanes

AD NUMBER: AD 2014-25-08 PRODUCT: Certain Dassault Aviation Model FALCON 2000 and FALCON 2000EX airplanes.>[...]

AD: Pilatus Aircraft Limited Airplanes

AD NUMBER: 2014-25-04 PRODUCT: Pilatus Aircraft Limited Models PC-6, PC-6-H1, PC-6-H2, PC-6/350, PC-6/350-H1, PC-6/350-H2, PC-6/A, PC-6/A-H1, PC-6/A-H2, PC-6/B-H2, PC-6/B1-H2, PC-6>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC