Company structure

Company structure

Affiliated companies
Pont-Tech S.r.l. held 20.44% by Piaggio & C. SpA
SAT S.A. held 20% by Piaggio Vespa B.V.
IMMSI Audit S.c.a. r.l. held 25% by Piaggio & C. SpA
Acciones Depuradora
held 22% by Nacional Motor S.A.

During the period, the Group’s corporate structure changed as a result of the following events:

  • on 1 July 2012, the company incorporated under Dutch law Aprilia World Service BV was merged by incorporation with the company Piaggio Vespa BV, also incorporated under Dutch law, wholly owned by Piaggio & C. S.p.A.;
  • on 8 October 2012, a new company Piaggio Advanced Design Center Corp., wholly owned by Piaggio & C. S.p.A. and based in Pasadena, California, was incorporated under California law;
  • the company P&D S.p.a. went into liquidation.

On 11 April 2012, following award of the competitive tender pursuant to article 105-107 of the Italian Bankruptcy Law, Piaggio & C. signed a contract of purchase for the company site “Tecnocontrol” situated in Pontedera, for a total value of EUR 11,323,000.

With the acquisition of Tecnocontrol, Piaggio & C. now has its own aluminium engine components processing procedure.

The effect on the statement of financial position of Piaggio & C. is as follows:

  • Production buildings        + 2,113,000.00 Euro
  • Operating goods               + 7,666,061.81 Euro
  • Consumables                     + 1,543,938.19 euro

In this regard, the acquisition has not resulted in the recognition of goodwill or potential liabilities, since the adoption of IFRS 3 revised.

Vespa super