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 Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 08.29.16

Airborne 08.30.16

Airborne 08.24.16

Airborne 08.25.16

Airborne 08.26.16

Airborne Hi-Def On YouTube

Airborne 08.29.16

Airborne 08.30.16

Airborne 08.24.16

Airborne 08.25.16

Airborne 08.26.16

Tweet Us The Coolest Things You See @OSH16!
#OSH16Coolest!

It's Alive!: AirVenture 2016 Innovation Preview on Vimeo!

It's Alive!: AirVenture 2016 Innovation Preview on YouTube!

 

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 08.26.16: Citation Longitude Update, Falcon 9 Display, N Shore Heli Rte

Also: Aerosim Scholarship, Santa Monica Nonsense, Marine One, UAV Developer Kit, FAA Penalty, F-35 Weapons Test, Coastal Helicopters The Cessna Citation Longitude moves closer to i>[...]

AeroSports Update: European Aerobatic Champion Determined

Aerobatics Legend, Mikhail Mamistov, Takes Record Fifth FAI European Aerobatic Championship The World Air Sports Federation (FAI) European Aerobatic Championship (EAC) competition >[...]

Aero-News: Quote of the Day (08.29.16)

"We, as an industry, can do better... and while its not an infraction on the scale of those we've documented recently with Icon and other bad actors, it apparently created enough d>[...]

Cheesy--Or Just Plain Dishonest? FlyQ Email Suggests ForeFlight Offer--But Isn't

Recent E-Mailing Suggests One Product... But Is Actually Something Else Altogether ANN has made much of the fact that we, as a community, need to be able to depend on one another a>[...]

Another Tough Weekend For Airshows... Two Pilots Lost

Accidents in Oregon and China Take Pilot's Lives It's been a lousy weekend to be an aviation journalist as we document the tragic loss of two well-known pilots in two separate airs>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC