On 29 May 2020 Stavatti submitted an Expression of Interest for the purchase of the business units of Piaggio Aero Industries S.p.A. in a.s., and Piaggio Aviation S.p.A. in a.s. The Stavatti bid included the purchase of both business units of Piaggio including the business complexes of Piaggio Aero Industries at Villanova d’Albenga. The bid was submitted to Mr. Vincenzo Nicastro,The Extraordinary Commissioner.

The proposed acquisition of Piaggio will be implemented in two rounds including a “Round A” Acquisition and Purchase and a “Round B” Investment and Recovery. Round A will consist of the purchase both Piaggio Aero Industries and Piaggio Aviation and the assets thereof in their entirety from the current owner(s) thereof assuming full right and title of all assets. In Round B Stavatti will invest directly into the recovery and business development of Piaggio Aero Industries and Piaggio Aviation. The Company will function as the Piaggio Division of Stavatti Aerospace or “Stavatti-Piaggio” and will focus on the development, certification and production of new variants of the Avanti as well as new design Stavatti civil and military aircraft.

The combined Round A and Round B bid presented by Stavatti is on the order of hundreds of millions of dollars, subject to the completion of a comprehensive due diligence investigation of Piaggio by Stavatti as well as the arrival of mutually agreeable terms.

Stavatti has developed a comprehensive Recovery & Development Plan for Piaggio that focuses on the expanded production of the Avanti Evo as well as new derivatives and variants of the Avanti as well as new design Piaggio and Stavatti aircraft and powerplants. Stavatti leadership shall establish a management organization that will be located in Italy to focus upon restructuring and production re-start with an initial focus upon immediate production of current configuration aircraft to meet immediate outstanding orders and backlog.

Investing directly in the expansion of the business, Stavatti will focus on the upgrade/modernization of the P.180 Avanti with respect to avionics, displays, powerplant, systems, interior styling and incorporation of advanced aluminum alloys and production techniques to improve performance and reduce production costs and labor intensity. New variants of the Avanti that Stavatti will oversee the development, certification and production launch of will include turboprop, electric/hybrid electric and turbofan configurations. Long term strategic plans include the production of next generation Stavatti military aircraft to satisfy the needs of the Italian Air Force as well as regional NATO/Allied Air Forces as Stavatti-Piaggio aircraft. Serving as Stavatti’s military aircraft manufacturing center in Europe, future Stavatti-Piaggio aircraft may include the SM-28 Machete Close Air Support (CAS) Aircraft, the SM-36 Stalma Multi-Role Fighter and the SM-39 Razor Air Dominance Fighter.

In addition to aircraft, Stavatti-Piaggio will also focus on the Development and Production of next generation aero engines for the regional NATO/allied market including the production of new design Stavatti-NeoThrust variable cycle turbofans, including afterburning turbofans for the SM-36 and SM-39 aircraft. Production of new Stavatti turboprop and reciprocating engines will also be conducted by Stavatti-Piaggio.

On 1 May 2020 Stavatti submitted a response to Phase 1: Request For White Papers for the United States Special Operations Command (USSOCOM) Armed Overwatch Program Other Transactional Authority (OTA) Agreement for a Prototype Project, Solicitation Number H92408-20-OTA-ARMEDOVERWATCH. The Stavatti submission, which included an 8 page White Paper accompanied by Attachment E: Offerer Certifications and Disclosures as well as Attachment D: Supplier Response Template, proposed the SM-27T Turboprop Machete as a potential multi-domain solution to the USSOCOM Armed Overwatch requirement.

The Armed Overwatch Requirement specified a need for up to 75 Fixed or Rotary Wing Armed Overwatch Aircraft to fulfill Close Air Support (CAS), Armed Intelligence, Surveillance & Reconnaissance (ISR), Strike Coordination & Reconnaissance (SCAR), and Forward Air Control (FAC) roles. Stavatti response outlined how Stavatti has the capability necessary to meet the Armed Overwatch requirement within USSOCOM’s time-frame without causing an unacceptable delay in meeting and exceeding the needs of the warfighter.

The proposed offer of SM-27T Machete aircraft to USSOCOM includes 75 new aircraft. Aircraft delivery can begin in 2023 will full delivery of all 75 aircraft by 2027. The aircraft was offered at an average unit flyaway cost of between $15 Million and $20 Million each, depending upon USSOCOM selected sensors, avionics and electronic warfare systems. The 75 aircraft as proposed may accompanied by a support package including spares, ordnance, ground support, training and maintenance. In full compliance with the Buy American Act, the SM-27T will be produced in the USA with all systems and components produced in the USA with exception of the PW150 derivative turboprop powerplant and MX-10D/MX-15D Electro-Optical Sensor both of which will be produced in Canada in accord with USA/Canada defense trade agreements.

A two seat tandem, single engine turboprop CAS and Attack Aircraft, the SM-27T is intended to address anticipated future CAS and attack aircraft needs of both the USAF and NATO/Allied Air Forces. The SM-27 is designed to serve as a successor to attack aircraft including the A-10 Warthog, Su-25 Frogfoot, A-1H Skyraider, Super Tucano ALX, AT-6 Wolverine, OV-10 Bronco, A-37 Dragonfly, IA-58 Pucara and other attack aircraft. The SM-27 is a three surface aircraft featuring a moderate aspect ratio wing, canard foreplanes, twin vertical stabilizers and an all moving horizontal tail. With a maximum level speed of 400 Ktas, the SM-27 is armed with a 30mm cannon and will carry up to 8,000 lbs of ordnance over 2,000 nm.

Now under development by Stavatti as a privately funded, commercial program, Stavatti is undertaking a $400 Million investor funded development program including a $50 Million prototype and flight test centric Demonstration and Validation (Dem/Val) program and a $350 Million Full Scale Development (FSD) Program. The development effort will result in FAA type certification, DoD Military Qualification and Low Rate Initial Production (LRIP). The SM-27 is now being developed exclusively in the USA and Stavatti has selected a production site in the USA to serve as home to the Machete family production line. Stavatti projects producing between 50 and 100 SM-27s annually depending upon global customer needs and aircraft demand.

Stavatti Aerospace Ltd. is an innovative aerospace defense enterprise focused on the design, development, and production of next generation aerospace vehicles. Stavatti Aerospace Ltd. is a privately held American Corporation with a CAGE Code of 7C5S4.

MEDIA CONTACTS

Please direct all questions to:

Chris Beskar
CEO
Stavatti Aerospace Ltd.
651-238-5369
media@stavatti.com