Ferretti Group sells 100% of Apreamare S.p.A to its founding shareholders

The deal is set to be closed by the end of March 2010 and will include the sale of the nautical pole of Torre Annunziata, Naples: a modern facility, which boasts 125,000 m² of total floor space and a private wet dock with about 100 mooring spaces.

The agreement will allow the Ferretti Group to continue to pursue the Strategic Plan implemented in recent months with the aim of focusing on its core business.

The Apreamare shipyards became part of the Ferretti Group in 2001, and have been operating since 1849. Apreamare's current product range includes the classic line of Gozzo boats ranging from 28 to 64 feet and the Maestro line of yachts, which offer a unique, bold appearance and range from 51 to 82 feet.

“I am very pleased that after years of extensive and successful collaboration, Apreamare is being placed back in the hands of its founders, and, specifically, our friends Cataldo Aprea and Antonino Pollio,” said Norberto Ferretti, Chairman and Founder of the Ferretti Group.

Norberto Ferretti continued, “The Aprea and Pollio families are able business leaders with the fullest understanding of this brand from having contributed to its creation and growth over all these years. I wish them the best of luck for Apreamare’s future.”

“The sale of this historical brand will allow us to focus even more closely on medium and large yachts and to better satisfy our customers’ needs,” said Salvatore Basile, Chief Executive Officer, Ferretti Group.

According to Salvatore Basile: “Our Group will continue to enjoy a collaborative relationship with Apreamare. In fact, our two companies are in the process of reaching an agreement under which the Apreamare shipyard will remain one of the most important Service operations of the Ferretti Group for the middle and lower Tyrrhenian, an area of great strategic importance.”