Company Switching To Mass Production
The Piaggio Company started in 1884
when the Italian company built interiors for passenger ships and
trains. In 1915, the company began manufacturing aircraft... and in
1925 started building aircraft engines. The company has a long
tradition in both fixed wing and rotary aircraft -- Piaggio's first
helicopter flew in 1938.
Piaggio Aero Industries was established in 1998 after the
purchase of the assets of Rinaldo Piaggio, one of the oldest
existing aircraft manufacturing companies. Jose DiMase is the Chief
Executive Officer, and Piero Ferrari is the President of the Board
of Directors of Piagio Aero Industries. Tom Appleton is President
and CEO of Piaggio America.
Piaggio is one of the last companies to manufacture aircraft one
at a time, harkening back to the days of hand craftsmanship... but
that's about to come to an end. Piaggio is about to depart from
this type of production model and go to a modern manufacturing
approach.
At a press conference Monday at NBAA 2006, Piero Ferrari pointed
out the company's "glorious past," while also nothing the company
experienced difficulties during the 1990s. "The company is still
developing," he said.
To that end, Piaggio announced that it has acquired 25 percent
of Pratt & Whitney Canada Turbo Engines Corp. "We are proud to
have formed an alliance with Pratt & Whitney Canada, one of the
world's leading aircraft engine manufacturers," said Ferrari.
Piaggio has invested almost $60 million with the aim to develop
both technological and industrial contents. The company expects
returns over the next 20 years to exceed $600 million.
Through this investment, Piaggio has entered a risk-sharing
partnership with Pratt & Whitney for the PW206/PW207 turbo
shaft engine program, which is used in such helicopters as the
Eurocopter EC/135, the Bell Helicopter B427, the MD Helicopters
MD900 and the Kazan Ansat.
In the fixed wing category, Piaggio signed a letter of intent
with Pratt & Whitney to work on the F135 Engine which powers
the F-35 Joint Strike Fighter. In December 2005, Pratt &
Whitney delivered the first flight test F135 engine to Lockheed
Martin in Fort Worth Texas.
The F135 propulsion system team consists of Pratt & Whitney,
the prime contractor with the responsibility for the main engine
and system integration; Rolls Royce of the United Kingdom,
providing lift components for the STOVL F-35B; and Hamilton
Sundstrand, provider of the F135's control system, external
accessories and gear box.
On the "wow, is that cool side", Piaggio obtained FAA
Certification of the Avanti II in May -- and first Avanti II was
delivered in the US. The Avanti II has also set some records for
its speed; in fact, it recently set another one, this time from
Denver to Orlando. The company now holds 17 speed records.
"This is another wonderful moment for Piaggio," said Tom
Appleton, Piaggio America President and CEO. "The P180 Avanti II is
the fastest business turboprop aircraft in the world and continues
to prove its prowess."
It is a pretty slick machine. The Avanti II has a range of over
1,800 miles at a speed of 398kts and a maximum cruising altitude of
41,000 ft.
In a move to regain its stature, Piaggio will be shelving its
current manufacturing process and gearing up to mass production of
its aircraft.
While it is understandable that the company's stock holders
expect a return on their investment... it will be sad to see one of
the last of the handcrafted ships to go to mass production.