Italian Investment Fund Make Strategic Investment in Tecnam Srl
Jan. 7, 2013
On December 21st, 2012, Construzioni Aeronautiche Tecnam S.r.l (Tecnam) signed an agreement with the "Fondo Italiano Investimenti SGR" to take a minority ownership interest in Tecnam. This Italian Investment Fund specializes in the provision of expansion capital to small and medium sized businesses.
Tecnam is the leading Italian company and major world player in the design, development and construction of single and twin-engine aircraft, for ultralight, microlight, Light Sport and Certified General Aviation markets.
The origins of the company date back to 1948 when Prof. Luigi Pascale and his brother Giovanni designed and manufactured their first plane and continued with the creation of Tecnam in 1986. To date, Tecnam has delivered more than 3,500 aircraft to over 50 countries worldwide through a comprehensive sales and service network with about 90% of sales being exported. Tecnam operates within a small aeronautical zone of excellence in the Naples area of Italy.
Over the years, Tecnam has grown steadily but substantially so the introduction of additional capital from the Italian Fund will help Tecnam consolidate its leadership in the area of light aircraft and general aviation as well as help fund the new Twin Engined P2012 Traveller 11 seat aircraft that will help take Tecnam into the passenger and cargo transportation markets.
"We are very pleased", said Paolo Pascale, CEO of Tecnam, "with this investment by the Italian Fund in the company, and to have such a highly qualified partner to work with us in the important process of growth planned for the coming years. This will allow Tecnam to further increase its competitiveness in the international market, and help demonstrate Italian excellence in a high technology area."