Industry News

Palumbo Group Sets Sites on Mondomarine Acquisition

Palumbo Group Sets Sites on Mondomarine Acquisition
Palumbo Group Sets Sites on Mondomarine Acquisition

The Palumbo Group has today fired the starting pistol on major industry movements for 2018 by announcing the first phases of acquisition for Savona-based yacht builder Mondomarine.

Reportedly in financial flux, the Palumbo Group entered talks with Mondomarine after it began to wind up business at the close of December 2017.

By leasing the shipyard for a period of six months and reinstating certain staff - with the view of maintaining most workers and craftsmen - the Palumbo Group is starting a long journey to fully acquire the shipyard.

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.

The addition of plans to acquire Mondomarine represents a new phase for the group and an adding level of dedication to supporting the construction of superyachts across Italy.

Palumbo Superyachts Division, with the Columbus Yachts and ISA Yachts, respectively dedicated to the construction of custom and semi-custom yachts, has become a constantly growing sector that draws strength from the Group's 50-years experience in the ship refit-repair and new build sector; not to mention its indisputable financial solidity.

We look forward to bringing you more information on the desired acquisition of Mondomarine, as and when it emerges.