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Piaggio to invest $20 million in Vietnam plant

Piaggio SpA plans to invest 15 million Euro ($20.4 million) in building a 323,000-square-feet plant in Vietnam during 2009 and 2010. The plant, announced earlier this year, will manufacture Vespa models for the local market, said Roberto Colaninno, Piaggio chairman.

The investment is part of Piaggio’s international expansion, he said at the launch of the company’s Aprilia SL 750 Shiver model.

The plant will be built near Saigon and can buy “excellent quality” components in Vietnam, while its sales network is already established in the country, Colaninno said.

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