Piaggio Aerospace Sale: Bid Submission Deadline Extended till May 29

The deadline for the submission of expressions of interest to purchase the business of Piaggio Aero Industries and Piaggio Aviation, the two companies under administration operating under the Piaggio Aerospace brand, has been further extended to the 29th of May.

The ongoing international epidemiological emergency from COVID-19 and the consequent additional containment measures adopted by numerous governments have in fact convinced the Extraordinary Commissioner Vincenzo Nicastro to postpone the time limit for the submission of the necessary documentation by approximately one month, "so as to allow the widest possible participation in the sales procedure," Mr. Nicastro stated.

The final date - according to a paid notice published this morning in some financial newspapers - is therefore now set at "6 p.m. CEST on 29 May 2020," a Piaggio Aero statement said today.

In the meantime, Piaggio Aerospace's production activities in the premises of Villanova d'Albenga, in the province of Savona, and Genoa continue, in full compliance with safety measures to safeguard the health of the personnel.

Piaggio Aero Industries and Piaggio Aviation operate under the Piaggio Aerospace brand. The group - which also controls the subsidiary Piaggio America in the United States – is active in the Aviation and Engine sectors.

In particular, the Aircraft business unit focuses on the design, construction and maintenance of civil and military aircraft, along with customer service activities. The Engine business unit revolves around the construction and maintenance of aero-engines.