Piaggio & C. S.p.A.
has signed a 150 million euro loan agreement with the
European Investment Bank (EIB) in Rome. The funding for
Piaggio was provided in connection with the Piaggio Group
R&D investment plan for 2009-2012.
The contract,
signed by EIB Vice Chairman Dario Scannapieco and Michele
Pallottini, Piaggio Group Chief Operating Officer Finance,
provides a 7-year loan to be used in one or more tranches
within 18 months from the loan date.
Michele Pallottini
said: "In addition to enabling Piaggio to expand its R&D
investments for development of innovative
environment-friendly vehicles offering enhanced safety
features and lower fuel consumption, the EIB loan will also
strengthen our Group’s financial position, at terms and
conditions that are extremely competitive in today’s
market."
