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Palumbo Acquires Mondomarine Savona Port Shipyard

Palumbo acquires Mondomarine Savona port shipyard

Palumbo Acquires Mondomarine Savona Port Shipyard

Savona, Italy (PortSEurope) November 22, 2018 – Following a year of discussions, Palumbo Superyachts has acquired the Mondomarine shipyard in Savona port.

The acquisition was made official on November 15, with the Port Authority of Savona signing the shipyard over to Palumbo.

The Port Authority of Savona granted a twenty-year state property concession to Palumbo following an initial six-month lease which was approved in January earlier this year. In addition to the facility, Palumbo will work to restore the Mondomarine name with several designers already tasked with the redesign of one of Italy’s oldest yachting brand’s line of superyachts.

The move consolidates the Palumbo Group’s position as the largest refit network in the Mediterranean and East Atlantic.

Mondomarine joins a portfolio which features eight other shipyards located in Ancona, Naples and Messina in Italy, Malta, Marseille in France, Tenerife in Spain and Rijeka in Croatia.

Palumbo has already moved to hire designers to work on new Mondomarine yacht projects.

Chief executive Giuseppe Palumbo said, “We strongly believe in the potential of the renowned brand of Mondomarine and the geographic location of the shipyard,” he said, adding, “This acquisition will further strengthen our position to provide unparalleled service on new builds, refit and maintenance from our unique network of shipyards.”

It was in 2016 when Palumbo acquired the ISA Yachts brand and facility in Ancona, a name which has experienced notable success since that acquisition. Today, the Palumbo Group operates nine shipyards across Italy, France, Spain and Malta as well as a branch office in Monaco.

Source: SavonaNews

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