- Business - Fincantieri superyacht division unaffected by trade union strikes

Fincantieri superyacht division unaffected by trade union strikes

Protests in Genoa against job cuts announced by Fincantieri in December will not impact on its superyacht yard in La Spezia, the company has confirmed. Good progress is revealed on its current and second superyacht in build, 140m 'Project Victory.'…

Ongoing protests in Genoa, Italy led by metalworker's union Federazione Impiegati Operai Metallurgivi (FIOM), will not affect Fincantieri’s superyacht operations at its La Spezia yard, the builder has confirmed.
The protests that have hit Genoa, with workers from the Sestri Ponente Fincantieri plant blocking traffic and turning over rubbish bins, as reported today in
 Agenzia Giornalistica Italia, ‘does not involve Fincantieri’s megayacht business unit’, according to a statement from the Company's press office.
The protests have flared up in opposition to an agreement made by state owned Fincantieri and Italian trade union bodies on 21 December 2011. The December agreement included plans for a gradual reduction of the workforce and temporary layoffs, estimated at over 1,200. Whilst two unions, FIT-CISL and UILM agreed to measures, the FIOM union refused.
In the aftermath of this, disgruntled workers led by the FIOM union at the Sestri Ponente Fincantieri plant (Fincantieri’s Merchant Ships division) and at the Palermo plant, (Ships repairs and Conversions division), have been mounting a series of protests. Over the past weeks action taken by workers has been significant and disruptive, with strikes at the Sestri Ponente plant and an occupation of the Cristoforo Colombo Airport in Genoa just two examples, as well as today's unrest on the streets of Genoa.

 Fincantieri's Muggiano yard at La Spezia. Work is progressing on the company's second superyacht, Project Victory

However, at Muggiano, La Spezia, work on the second superyacht in the company’s portfolio, is continuing apace, unaffected by the troubles.  The hull is "90 per cent complete" for Project Victory “due for delivery in 2014”, said Enzo Romano at Muggiano. Romano said the project was highly confidential but disclosed that the owner is a current superyacht owner and does not have immediate plans to charter, and has never chartered before. The yacht, like its slightly smaller predecessor Serene, which at 134m launched in August 2011, will be entirely designed, engineered and built by Fincantieri.

134m Serene

Superyacht construction is an example of Fincantieri’s strategic aim to diversify its product offering in the face of falling orders in the cruise ship sector which has led to the inevitable job cuts and protests witnessed now. In the 2010 annual report for Fincantieri, alongside plans to build superyachts, the company announced a contract to build vessels for the US Navy, which entails the option for the US to order 10 ships by 2015. Work on these US Navy vessels is concentrated at the Muggiano yard, La Spezia where the mega yacht arm is placed.

Related Links

Fincantieri Profile | Fincantieri Website

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