Piaggio Aerospace unveils new industrial plan

27 December 2017

Italian aerospace manufacturer Piaggio Aerospace has unveiled a new five-year industrial plan, with a EUR225 million (USD226 million) cash injection from its shareholder, the United Arab Emirates’ (UAE’s) Mubadala, helping to underpin the company’s plan.

Renato Vaghi, CEO of Piaggio Aerospace, said, “The Industrial Plan … lays the foundation to deliver long-term security built around our core programs while creating opportunities for growth in new areas of development.”

Under the plan, which was announced on 21 December, the company will also have its bank debt repurchased by Mubadala in exchange for further equity in the company.

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