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 01.16.17

Airborne 01.17.17

Airborne 01.18.17

Airborne 01.19.17

Airborne 01.13.17

Airborne Hi-Def On YouTube

Airborne 01.16.17

Airborne 01.17.17

Airborne 01.18.17

Airborne 01.19.17

Airborne 01.13.17

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

Could have Been Worse -- FAA, Skypan International Reach Fine Agreement

Company Had Faced A $1.9 Million Fine A comprehensive settlement agreement has been reached between the FAA and SkyPan International, Inc., of Chicago. The agreement resolves enfor>[...]

Airborne 01.18.17: AirVenture 2017, King Schools Drone Test, Tico Warbirds

Also: Plastic Fuel, 747 Down, Great Lakes, Lily Suit, Neffenger Stepping Down, Coast Flt Training, Boeing-SpiceJet EAA-AirVenture is many things to many people, and not the least o>[...]

Airborne 01.18.17: AirVenture 2017, King Schools Drone Test, Tico Warbirds

Also: Plastic Fuel, 747 Down, Great Lakes, Lily Suit, Neffenger Stepping Down, Coast Flt Training, Boeing-SpiceJet EAA-AirVenture is many things to many people, and not the least o>[...]

Airborne 01.17.17: Gene Cernan, KSMO NIMBY's Threaten AvBiz, Lily Drones Kaput

Also: Gone West: Bill Bordeleau, Aero-Calendar, Duncan Aviation, Norwegian Air, Drone Advisory, QinetiQ, Drone v Space Needle We’re sorry to report that, according to a Tweet>[...]

FAA Issues AD For Diamond DA42 Aircraft

Has Received Reports Of Uncommanded Engine Shutdowns In Flight The FAA has issued an AD for Diamond DA42 aircraft following reports of uncommanded engine shutdowns in flight.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC