Events during the year
22 January 2010 - An agreement was signed with Enel to study mobility and charging needs for company fleets and hybrid scooters, based on a joint pilot projects to be developed in a number of Italian cities.
March 2010 - The new engine production site in India was inaugurated.
1 March 2010 - An important agreement for technical collaboration was signed with the Chinese company Dongan Power, which is part of the ChangAn-Hafei Group, one of China’s leading manufacturers in the automotive industry. The purpose of the agreement is to develop petrol engines for the light commercial vehicles the Group manufactures in Italy and in India, and to focus in the future on technological developments for low/zero environmental impact hybrid and electric engines.
6 April 2010 - A decree approved by the Government Cabinet on 19 March 2010 came into force. This law has allocated a 12 million euro fund for schemes to replace old Euro 0 or Euro 1 mopeds and motorcycles with new Euro 3 models with a maximum engine capacity of 40 cc or maximum power of 70 kW.
16 April 2010 - Pursuant to article 2386 of the Italian Civil Code, the General Meeting of Shareholders of Piaggio & C. appointed Livio Corghi as Board Director.
16 April 2010 - The General Meeting of Shareholders of Piaggio & C, as motioned by the Board of Directors on 26 February 2010, resolved to amend the 2007-2009 Stock Option Plan, to which a maximum of 3,300,000 treasury shares (0.83% of the share capital) will be allocated.
16 April 2010 - The General Meeting of Shareholders of Piaggio & C, resolved to annul 24,247,007 treasury shares of the Company (equal to 6.12% of the share capital), with the elimination of the par value of ordinary shares in circulation and without a reduction in the amount of share capital, as motioned by the Board of Directors on 26 February 2010. As from 10 May 2010, following the filing of the resolution in the Register of Companies, the nominal share capital of Piaggio & C. S.p.A, unchanged and equal to 205,941,272.16 Euro, is divided into 371,793,901 ordinary shares.
16 April 2010 - The General Meeting of Shareholders of Piaggio & C. S.p.A resolved to increase share capital, against payment and divisibly, for a total maximum nominal amount of 2,891,410.20 Euro, in addition to 6,673,309.80 Euro as a share premium, excluding option rights pursuant to article 2441, paragraphs 5 and 8 of the Italian Civil Code and article 134 of Legislative Decree 58/1998, through the issue of 5,220,000 ordinary shares to be subscribed by 2007-2009 Stock Option Plan beneficiaries.
5 May 2010 - Moody’s confirmed its Ba2 corporate rating of the Parent Company, though it upgraded the outlook from “negative” to “stable”.
3 June 2010 - The Board of Directors of the Piaggio Group approved the industrial project for the construction of a new plant in India to manufacture a Vespa model specifically developed for the Indian market. The new vehicle is expected to go on sale in 2012.
14 June 2010 - The Piaggio three-wheeler scooter, the MP3, was officially presented to the Chinese market.
23 July 2010 - Two medium-term loans were undertaken with IFC-International Finance Corporation, a member of the World Bank, for a total of 30 million euro. The loans are for the subsidiary Piaggio Vehicles Private Limited (India) and Piaggio Vietnam, that will use the funds for production investments.
22 September 2010 - Pursuant to article 2386 of the Italian Civil Code, the Board of Directors of Piaggio & C. S.p.A appointed Andrea Paroli as Board Director.
23 September 2010 - The Piaggio Group’s 2010-2013 Strategic Plan was presented. The Plan focuses on developing new industrial sites in India and Vietnam, consolidating the Group’s commercial presence on Asian markets through new products and creating new technologies for European and American markets.
It will also target considerable growth in industrial productivity and more rigorous control procedures.
As concerns products, the Plan will aim for optimised marketing strategies, significant growth in R&D productivity, new structures for product development centres, the technological development of new petrol engines with a low environmental impact and the industrial production of new diesel engines for the four-wheeler segment. As for the two-wheeler sector, the Plan will consolidate the Group’s leadership position on the European market and develop a new industrial site in India for the manufacture of scooters and motorcycles from 2012 onwards, as well as develop and expand the production site in Vietnam. In the Commercial Vehicles division, the Plan will focus on consolidating the Group’s leadership position in the three-wheeler segment in India and on developing its product ranges in the four-wheeler segment for the Indian and European markets.
26 September 2010 - Max Biaggi riding an Aprilia RSV4 SBK took the rider’s title in the World Superbike championships.
3 October 2010 - Aprilia won the manufacturer’s title in the Superbike championships, taking its total number of titles to 45.
17 October 2010 - Derbi won the manufacturer’s title in the 125 cc category.
2 November 2010 - The Concept Piaggio NT3 was presented at EICMA, the International Motorcycle Exhibition held in Milan. This innovative vehicle is just 2.4 metres long, and can easily transport three people with 200cc or 300cc engines.
7 November 2010 - Marc Marquez won the 125cc rider’s world championship title riding a Derbi, bringing the number of titles won by “Las Balas Rojas” to a total of twenty-one.
23 November 2010 - Standard & Poor’s confirmed its BB corporate rating of the Parent Company, revising its outlook from “negative” to “stable”.
