Fincantieri Pact with Genova Industrie
Two Italian shipbuilders - Genova Industrie Navali (GIN), a holding company by two historic Genoese shipyards, T. Mariotti and San Giorgio del Porto, and Fincantieri -have reached a cooperation agreement covering different areas, from new buildings, to ship repair, conversions and outfitting.
The agreement provides for the acquisition by Fincantieri of a minority stake in GIN Group’s holding company and an option for a minority stake in T. Mariotti.
Fincantieri’s stake will allow GIN to achieve further financial strength, an increasingly important asset to face complex projects and to overcome market challenges, especially in the field of small and medium-sized luxury cruise ships construction.
Incidentally, T. Mariotti's agreement formed a cooperation with Damen under the Mariotti Damen Cruise banner in 2018. That partnership is starting with a pair of luxury expedition newbuilds for Seabourn.
The Genova Industrie Navali Holding is an holding constituted by San Giorgio del Porto Company (an important name in ship repairs), and T. Mariotti Company (specialising in the construction of luxury vessels) which, coincidentally, both share the same place and date of founding: Genoa (Italy), 1928. The holding company,formed in 2008, has the important role of coordinating and developing the activities of all the maritime companies directly affiliated with it.