Italy's Piaggio SpA best known for its Vespa scooters said that it was targeting further expansion in Asia to offset weak two wheeler markets in Europe, but left its core earnings margin target unchanged.

In a strategy plan for 2011-2014, Piaggio said it would continue to expand its presence in Asia, with new production, models and sales activities, including entry into the Indian scooter market.

It said that "The plan forsees a strong growth in productivity in order to generate value for customers, workers and shareholders, working on its increased international presence.”

Piaggio set 2014 targets of around EUR 2 billion in sales, up from just over EUR 1.5 billion seen by analysts this year, and an earnings before interest, tax and depreciation margin of 15%

(Sourced from ET)