Italy: Admiral Tecnomar Acquires Nuovi Cantieri Apuania

Admiral Tecnomar, Italian company leader in the project and construction of large luxury yachts, has completed the acquisition of Nuovi Cantieri Apuania, company active in shipbuilding, from Invitalia, the Italian National Agency for attraction of investments and enterprise development of Ministry of Economy and Finance.

As a result of this action rises The Italian Sea Group – one of the biggest conglomerate groups in Italian boating.

Contextually to the acquisition, Admiral Tecnomar presented an industrial plan characterized by three development routes:

1. The consolidation of core business of mega yachts in aluminum and steel
2. The development of activities in shipbuilding placing the attention on high-tech constructions
3. The development of the particularly promising business of refitting and service for large ships and yachts, in partnership with high-qualified international brokers, collaboration that Admiral Tecnomar has been conducting for a long time.

In virtue of such an industrial plan, the actual occupational levels will be preserved thanks to the engagement in maintaining all 150 workers within the next two years. Furthermore, new investments in the NCA area are expected for about 8 million Euros.

Giovanni Costantino, Chairman of Admiral Tecnomar, stated: “We arrived to the conclusion of this acquisition with a total financial autonomy, real demonstration of the concreteness of our approach and of the solidity which differs our activity from others. Strong industrial synergies among the business areas of these two realities, especially from a productive, logistic and project point of view, but also concerning the technical know how, as a result of this acquisition”. “The decision to acquire NCA – continues the Chairman Costantino – stands on a meticulous evaluation of structural, economic and financial values of the company. The widening of the Admiral Tecnomar production capacity will allow us to gather all the opportunities on the market, particularly in the field of vessels superior to 50 meters. From a sales point of view, we are intended to operate on two different markets, but thanks to the grafting of such a solid competence in the shipbuilding, we want to give further authority to Admiral Tecnomar in order to reinforce its top position in the field of luxury mega yachts”.

Admiral Tecnomar is a reality in expansion which has become in a few years a reference point within the luxury boating sector.

The brand Admiral characterizes yachts from 35 to 80 meters of high-class and prestigious features whereas the brand Tecnomar yachts from 30 to 49 with features of sportivity and high-performance, combined to a highly refined design.

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Press Release, January 15, 2013