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- March 10, 2021, 11:08 AM
From 19 expressions of interest that were presented for Piaggio, the field of bidders has winnowed down to four. (Photo: Piaggio Aerospace).
The field of bidders for Piaggio Aerospace has narrowed again, with four entities filing non-binding offers by the March 5 deadline. After weighing expressions of interest from 19 potential bidders for Piaggio, the Italian Ministry for Economic Development late last month had extended invitations to five entities from three continents to submit offers.
Piaggio Aerospace commissioner Vincenzo Nicastro will assess the offers and send the analysis to the Ministry for Economic Development to determine the strongest bidder. Negotiations will then begin with that organization. Officials estimated that the negotiating period would last about a month before an irrevocable and binding offer is finalized.
Piaggo shortlists Five Potential Buyers 26 February 2021
Administrators for Italian manufacturer Piaggio have shortlisted five potential buyers for the company, workers were told this week.
With the due diligence phase complete, Extraordinary Administrator Vincenzo Nicastro was able to inform the 940-strong workforce that five companies had emerged as potential new owners.
“Having five bidders on the shortlist is a very positive result,” Nicastro said, “particularly if we consider that the pandemic discouraged several overseas entities, especially those that most suffered from travel restrictions.
“I thought it useful at this stage to make the offers non-binding, in order to allow me to start all-round negotiations with those who will submit the best proposal in terms of the industrial plan, guarantees for the future and purchase price”.
- February 25, 2021, 10:24 AM
One of five shortlisted prospective bidders is set to acquire Italy s Piaggio Aero, which makes the Avanti Evo aircraft. (Photo: Piaggio Aero)
Five entities from three continents have made it to the final bidding process to acquire Piaggio Aerospace, with offers to purchase due on March 5, the Italian aircraft manufacturer announced today. In all, 19 entities had expressed interest in buying Piaggio Aerospace, which entered extraordinary receivership in late 2018, but only five received authorization from the Italian Ministry for Economic Development and then passed the diligence phase.
Vincenzo Nicastro, the extraordinary commissioner of Piaggio Aerospace, said letters were sent to those who explicitly confirmed their interest in purchasing the company and reaffirmed their willingness to take over the business in its entirety. “Having five bidders on the shortlist is a very positive result,” he said, “particularly if we consider that the pan
Honeywell Launches Next-Gen Digital Cabin Pressure Control, Monitoring System for Aircraft
Honeywell has introduced the next generation of its Cabin Pressure Control and Monitoring System with applications in both commercial and military aircraft. This new version of the system is all-electric, lighter-weight, and available now for business and regional aviation as well as tactical or military trainer-sized aircraft.
The Cabin Pressure Control and Monitoring System (CPCMS) helps maintain and monitor the air pressure inside an aircraft. It can be found onboard any aircraft that flies high enough to require air pressurization, including commercial and business jets as well as military aircraft. It regulates the air that is pumped into the cabin of an aircraft to maintain a safe and comfortable environment while flying at high altitudes. It also manages the rate of pressure change to avoid passenger discomfort during