Piaggio to set new production plants in India
Piaggio SpA which knows for its best scooters in the world now ready to come back in India with new manufacturing plant. According to source Italy based Piaggio which is manufacturing three wheeler and two wheeler and selling whole world including Asia now to set more new plant in India and Viatnam.
The company want to get-up 15 per cent share in the market it has targeted to get 13.2 per cent share in 2012. For it the company will be invested a big capital in the Asian market including India and Viatnam.
The Piaggio which is already selling three wheelers in India now has now going to re-launch its popular scooter Vespa with 125cc engine. For it the company has started production. The Paggioi Vespa 125 will be launched by the year of 2011.
Now the company making a plan to enter in four wheeler and motorcycle market and seeks to set it new manufacturing plant with it the Piaggo to develop its technology for American and European market.
For the Scooter and motorcycle engine production in the Europe, the company has collaborated with Aprilia and Moto Guzzi. Piaggio gave no details on investments but said net debt is targeted at 300 million euros ($402.1 million) in 2013. At the end of 2009, net debt was 352 million euros. The total sales business is approximately € 1,900 million and EBITDA of around € 285 million, with a 15% EBITDA margin.
Overall the company to spread its business in India, China, Viatnam, Eurpe and American countries and in this direction it is working in fight stage.