Palumbo Group Aquires Superyacht Yard ITM Marseille

The 2014 started with a new acquisition for the Palumbo Group. On Monday, February 3rd the Commercial Court of Marseille declared Palumbo Group the winner of the Tender for the Acquisition of International Technic Marine (ITM) in Marseille.

There were two players at the final stages of the Tender, the Maltese Company Melita Marine, that withdrew its bid just before the final decision of the Court, and Palumbo Group that resulted to be the winner.

Palumbo Marseille Superyachts ITM, the new name of the Shipyard, covers an area of about 12,000.00 sqm comprising 4 four large dry docks ranging from 80 up to 126 meters, a watershed of about 95 meters and more than 300m of quays for afloat repairs. Palumbo Group kept 8 of the former managers.

The shipyard, located in the Port of Marseille and in the centre of the city, is one of the biggest shipyards in the Mediterranean fully dedicated to superyachts. Palumbo Marseille Superyachts ITM will now be included in the already created network of Palumbo Shipyards in the Mediterranean and will represent a refit centre of excellence in the Mediterranean.

Palumbo Group plans to start its investment in the facilities buying new equipment and lifting systems in order to improve and increase the range of services to offer to its clients.

The Company started its activity in the shiprepair field and now operates in construction, refit, repair and maintenance of every type of vessel in its five shipyards Naples, Messina, now Marseille and Malta with two yards.

With ITM Marseille acquisition, nowadays, Palumbo manages an extended platform comprising fourteen dry-docks (6 of them fully dedicated to superyachts) ranging from 40 meters up to maximum 360 meters in length, more than one kilometer of quays and an operational area covering about 520,000 square meters.

“Palumbo Group would like to thank the city of Marseille for the warm welcome and it is doing its best to get the Shipyard fully operative, as in the past; as soon as possible,” the Group said in a release.

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Press Release, February 6, 2014