In 1959, Piaggio came under the control of the Agnelli family, the owners of car maker Fiat SpA. Resultantly, as the wider ownership of Fiat in Italian industry, in the 1964 the two divisions (aeronautical and motorcycle) split to become two independent companies; the aeronautical division was named IAM Rinaldo Piaggio. Today the airplane-company Piaggio Aero is controlled by the family of Piero Ferrari, who also still holds 10% of the famous car maker Ferrari.
