Marine Link
Tuesday, January 23, 2018

Palumbo Buys Mondomarine

Maritime Activity Reports, Inc.

January 7, 2018

Photo: Mondomarine Shipyard

Photo: Mondomarine Shipyard

 Italian yard Palumbo Group has acquired the former Mondomarine facility in Savona on an initial six-month lease, reports local media.

 
"By leasing the business unit of the Savona shipyard, Palumbo Group will grant the restart of the shipyard's activities, along with the immediate reinstatement of nine employees." Palumbo Group explained in a statement. "The aim is to further reinstate a good part of Mondomarine Savona workers, as a consequence of the desired, final acquisition."
 
The deal saves 9 jobs from the Italian shipyard that went into liquidation towards the end of 2017, which put a total of 57 jobs at risk.
 
Before its liquidation, Mondomarine was a key player in the Italian yacht market and built more than 30 yachts over a 25-year period. Its biggest asset is the ability to construct yachts up to 70 metres.
 
According to sources a new company called Savona Superyachts has been formed to operate the site, with a focus on refit projects — all of the part-finished Mondomarine projects have now been shipped to other yards for completion.
 
This news follows the Palumbo Groups recent acquisition of ISA Yachts in Ancona, which is now one of the main superyacht production sites for the major Italian shipbuilding brand.
 
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