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Italian Sea Group Secures Financing For Multi-year Investment

Italian Sea Group secures financing for multi-year investment

Marina di Carrara, Italy (PortSEurope) May 14, 2020 – Italian Sea Group, which operates in the luxury yachting sector, has signed an agreement with Italy’s Unicredit and Deutsche Bank for a loan of up to €20 million ($21.62 million) to finance a multi-year investment plan. The financing with be used to expand the production area in order to increase production capacity and refitting activities. The
Marina di Carrara shipyard of covers an area of ​​over 100,000 m² of with 30,000 m² allocated to refitting and repairing. The company employs around 300 direct employees and has an additional 800 related jobs in the area. Giovanni Costantino, President of The Italian Sea Group, said, “I am very proud to have two important partners such as UniCredit and Deutsche Bank which believe in our development plans, in the solidity of the company and in our ability to look concretely towards the future to seize the opportunities the market offers us. In a difficult context such as the one we are currently living in, we have confirmed all the investment plans that we planned, proving our strength and characteristics which in just over a decade have made us one of the major international players in our own industry”. “This financing operation testifies to the commitment of UniCredit to support local businesses in the implementation of their growth plans. Today we feel even more responsible when it comes to guarantee all our support for the economy of our country and strengthen our intervention in favor of Made in Italy”, added Andrea Burchi, UniCredit Center-North Regional Manager. Italian Sea Group brands include Admiral, Tecnomar and NCA Refit. Marina di Carrara is located around 30 km south of La Spezia, Toscana (Tuscany). Copyright (C) PortSEurope. All Rights Reserved. 2020.

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