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Tuesday, June 16, 2015

Piaggio Adjusts Focus Towards Defense

Piaggio P.1HH HammerheadPiaggio, the Italian producer of Avanti business turboprop, is nudging its focus toward the defense business, company CEO Carlo Logli has stated.

Ever since United Arab Emirates investment firm Mubadala took the majority stake in the manufacturer in May 2014, the company has moved to “consolidate its civil turnover” and pay increased attention to the defense sector, Logli, told Aviation Week at the Paris Air Show.

He said the company before the takeover was in a “very poor” situation, with two outdated factories, which have been consolidated into one new 140 million euro (US$157 million) modern facility at Villanova d’Albenga near the Italian-French border.

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