Ferretti Group's Chinese investment reaps dividends
CRN has secured a letter of intent for its first sale to a Chinese client since its parent, the Ferretti Group, was bought by the Chinese conglomerate, Weichai Group. The 68m superyacht is expected to be delivered in 2017.…
CRN, the Ferretti Group's custom division, has signed a Letter of Intent (LOI) with a Chinese client for a 68m superyacht, the biggest vessel ever sold by CRN and Ferretti Group in China.
The signing, which took place in Weifang on 14 January, was carried out in the presence of Tan Xuguang, chairman of Weichai Group and Ferretti Group; Representatives of Weichai Group senior management; Lamberto Tacoli, chairman and CEO of CRN; Alessandro Tirelli, Ferretti Group Asia-Pacific sales director; and Xu Xinyu, executive president of Weichai Group and Ferretti Group.
The delivery of the vessel, expected to taking place in 2017, will mark another seminal moment in Ferretti's post-buyout history. The contract itself also represents a coup for the new regime, being as it is, among the largest projects ever delivered to a Chinese client, and the first custom project sold by the Chinese-owned group in the Weichai era.
At 68m long and 12.5m wide, the vessel will combine steel and aluminium, and has been designed by Zuccon International Project. One of the distinctive features of the new vessel is its floodable garage, which allows the tender to enter the water without using a crane. This feature was first introduced by CRN for 60m J'Ade, and was received to widespread acclaim.
In a statement issued to the media the yard stated that this landmark moment had confirmed its attendance at the 2014 Hainan Rendez-Vous. “The signing of our first LOI for 2014 with a Chinese client is not only something to take pride in, but also a true [statement] of the strategic path we have embarked on,” said Lamberto Tacoli, chairman and CEO of CRN. “The conquest of new markets, and above all that of the Asia-Pacific basin, is indeed a short-term fundamental objective for the brand, which will be pursued as we continue to invest in our assets: design, innovation, craftsmanship and 'Made in Italy'.”
To receive breaking news notifications, download our free app.
The signing, which took place in Weifang on 14 January, was carried out in the presence of Tan Xuguang, chairman of Weichai Group and Ferretti Group; Representatives of Weichai Group senior management; Lamberto Tacoli, chairman and CEO of CRN; Alessandro Tirelli, Ferretti Group Asia-Pacific sales director; and Xu Xinyu, executive president of Weichai Group and Ferretti Group.
The delivery of the vessel, expected to taking place in 2017, will mark another seminal moment in Ferretti's post-buyout history. The contract itself also represents a coup for the new regime, being as it is, among the largest projects ever delivered to a Chinese client, and the first custom project sold by the Chinese-owned group in the Weichai era.
At 68m long and 12.5m wide, the vessel will combine steel and aluminium, and has been designed by Zuccon International Project. One of the distinctive features of the new vessel is its floodable garage, which allows the tender to enter the water without using a crane. This feature was first introduced by CRN for 60m J'Ade, and was received to widespread acclaim.
In a statement issued to the media the yard stated that this landmark moment had confirmed its attendance at the 2014 Hainan Rendez-Vous. “The signing of our first LOI for 2014 with a Chinese client is not only something to take pride in, but also a true [statement] of the strategic path we have embarked on,” said Lamberto Tacoli, chairman and CEO of CRN. “The conquest of new markets, and above all that of the Asia-Pacific basin, is indeed a short-term fundamental objective for the brand, which will be pursued as we continue to invest in our assets: design, innovation, craftsmanship and 'Made in Italy'.”
To receive breaking news notifications, download our free app.
Profile links
CRN Costruzioni Riparazoni Navali SpA
Zuccon International Project SrL
Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.
