The online shipping portal themeditelegraph.com reported earlier this month that Nuovi Cantieri Apuania (NCA), the Italian Sea Group’s facility in Carrara, Tuscany, might be about to change hands. Based on comments from three "qualified sources within the industry”, the report claimed that Giovanni Costantino, chairman of the Italian Sea Group, initiated negotiations for the sale of the shipyard at the end of last year.
The story added that the principle potential buyer was the Ferretti Group, based on its strong order book and partnership with Fincantieri in the military and defence sector. This would appear to make sense, given that during a Ferretti Group press conference on 12 April in Milan, CEO Alberto Galassi reported double-digit net results for 2016 and outlined further investments, including €21.4 million set aside to grow the Group’s production capacity.
The Italian Sea Group, however, has flatly denied the rumour. ”We are not for sale and we have a five-year business plan that includes strategic acquisitions, starting with the Celi carpentry company,” said Giuseppe Taranto, vice-chairman of The Italian Sea Group in response to the online story. “We have major orders under way, commitments with clients, and a plan to augment our in-house resources: the idea of a sale has nothing to do with our objectives.”
Giovanni Costantino acquired the state-owned NCA facility in 2012. Today it is the headquarters of the Italian Sea Group, which includes the Admiral, Admiral Sail and Tecnomar brands, along with NCA Refit. The site covers around 100,000 sqm, including construction halls, administration offices, 2,000m of wharves and 200m of dry dock. According to data compiled by The Superyacht Intelligence Agency, the Italian Sea Group has a dozen projects in build due to launch between 2017-20.
Credit: images by Justin Ratcliffe
During the COVID-19 Crisis as a good will gesture, while many people are at home, in port, on board or working remotely, we are allowing our loyal and expert audience, complete and complimentary access to our SuperyachtNews Premium Content and unlimited access to our digital library of The Superyacht Report - issues 175-200. Click here to sign up now.