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BREAKING NEWS

BREAKING NEWS

Italy government wants to protect Piaggio Aerospace jobs - PM office

Italy government wants to protect Piaggio Aerospace jobs - PM office
FILE PHOTO: Italy's Prime Minister Giuseppe Conte attends a news conference after the second day of the international conference on Libya in Palermo, Italy November 13, 2018. REUTERS/Guglielmo Mangiapane/File Photo -
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GUGLIELMO MANGIAPANE(Reuters)
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ROME (Reuters) - Italy's Prime Minister Giuseppe Conte said on Friday that the government's priority is to protect jobs at Italian aircraft maker Piaggio Aerospace, and will discuss the matter in the coming hours.

Piaggio Aerospace has asked the government to be put under special administration after a 2017 turnaround plan failed to produce the expected results.

The company, a unit of Abu Dhabi's sovereign fund Mubadala, produces unmanned drones used by the Italian airforce.

In 2017 it agreed to sell its executive P180 turbojet business to PAC Investments, a Chinese state-backed consortium, an operation which raised concerns over the transfer of sensitive technology and potential loss of jobs.

(Reporting by Giselda Vagnoni, editing by Davide Barbuscia)

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