Published December 27,2024
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Italy has authorized the sale of Piaggio Aerospace, the nation’s aviation big, to the Turkish unmanned fight aerial automobile (UCAV) producer Baykar.
“The world’s largest UCAV company, Baykar outbid rivals from multiple countries in a competitive tender for the sale of Piaggio Aerospace, which was established in 1884,” Baykar mentioned in a Friday press launch concerning the approval, which got here from Italy’s Ministry of Enterprises and Made in Italy.
Baykar labored with Pragma Consulting on monetary valuation in the course of the course of.
Piaggio Aerospace is one of the best identified within the aviation business for producing P.180 Avanti business jets, also referred to as Ferrari of the skies, and plane engines.
The firm additionally performs a strategic position in Italy’s protection business ecosystem because of its upkeep, restore, and overhaul providers, and is famend for its contributions to Italy’s technological infrastructure over its 140-year historical past.
-‘Strategic transfer provides to world successes of Turkish aviation business’
Adolfo Urso, Italian minister of enterprises and made in Italy, mentioned in a press launch that the corporate’s relaunch was assured with a transparent and bold industrial imaginative and prescient, including: “After six years of waiting, we are giving Piaggio Aerospace, a strategic asset for our country, a future with a long-term production perspective, safeguarding corporate complexes and workforce.”
With this acquisition, Baykar is ready to broaden its affect within the European aviation market whereas preserving Piaggio’s historic legacy and enhancing its manufacturing capability, the assertion mentioned.
It mentioned: “Baykar’s future imaginative and prescient contains rising the employment alternatives that Piaggio offers in Italy.
“This strategic move adds to the global successes of Türkiye’s aviation industry and ensures that Piaggio’s historical identity is carried into the future through this agreement.”
– ‘Bringing the facility of Turkish aviation business to Europe’
Mehmet Fatih Kacir, the Turkish business and expertise minister, known as the acquisition “an indicator of the level of success Turkish aviation and Baykar have achieved on the global stage.”
On X, he added: “This collaboration will also contribute to strengthening the bonds of friendship and economic relations between Türkiye and Italy.”
Baykar CEO Haluk Bayraktar mentioned with the acquisition, Baykar is bringing the facility of the Turkish aviation business to Europe.
“With this strategic step, we are taking on the responsibility of carrying a historical brand into the future while strengthening our production capacity,” Bayraktar wrote on X.
In 2023, Baykar ranked among the many high 10 exporters in Türkiye throughout all sectors, racking up $1.8 billion in exports.
According to a report by the US-based assume tank Center for a New American Security, Türkiye dominates 65% of the worldwide unmanned aerial automobile (UAV) export market, with Baykar alone holding almost 60% of the market-three instances the scale of its closest US competitor.
In current years, Baykar has generated greater than 90% of its revenues from exports, delivering Bayraktar TB2 UCAVs and Bayraktar AKINCI UCAVs to 35 international locations.
Source: www.anews.com.tr