Far reaching cooperation to acquire the PIAGGIO aerospace group
LAER AVIATION GROUP S.p.A. (which owns 10% of the share capital of LAER S.p.A.) and Aero Challenge Group (ACG) today entered into a far reaching cooperation to acquire the PIAGGIO aerospace group.
LAER AVIATION GROUP S.p. A. has been a long-standing partner of PIAGGIO Aerospace, thanks to an agreement reached in 2014. Through its wholly-owned subsidiary LAER H, it took over the ‚spin-off’ of the production and assembly of fuselages, movable surfaces, and other aircraft assemblies for the P180 and all its derivatives. By assuming responsibility and management of PIAGGIO, LAER AVIATION GROUP S.p.A. aims to continue preserving Italian aeronautical excellence and the globally appreciated product, such as the P180.
ACG (Aero Challenge Group) is a group of medium sized aerospace enterprises which consists of new type of small and medium sized commercial aircraft, a unique space project and propulsion engines.
The strategy of this group is to transfer Piaggio Aerospace group into a stable and successful commercial future and to make best use of the unique heritage of this company its products and its workforce. It is also foreseen that new and additional Aerospace projects will be undertaken by thisgroup.
Therefore, this joint venture (JV) will need to interact with the Italian government to achieve this goal.