In order to maintain the activity of one of the jewels of South Eastern France’s yacht repair facilities, International Technic Marine (ITM) shipyard in Marseille has launched an international call for bids.
After more than 10 years of success at the top of the large yacht refit market, ITM has recently crossed a period of uncertainty, following restructuring within the company’s management. This unfortunately coincided with the effects of the economic crisis on the otherwise profitable yachting industry. Following this conjuncture, ITM now finds itself in serious financial difficulties, which have led to a juridical review in order to avoid bankruptcy.
ITM is therefore seeking investors or buyers for the shipyard, and can confirm that an international call for bids has been initiated this week.
Ideally situated in the heart of the Mediterranean, ITM has the exclusive use of 4 large dry docks and 300m of repairing piers, via the Port of Marseille. In addition to this, ITM initiated and supervised the construction of a watershed in 2008, which has housed several highly successful projects now considered benchmarks in the refit market.
ITM has brought together a network of suppliers and subcontractors, many in workshops within the shipyard. The companies are familiar with – and capable of meeting – the high standards required by this luxury market. The level of services offered is the fruit of a long and successful partnership with ITM, in whom these companies find an equal in terms of quality, reactivity, excellence and professionalism.
The financial support provided by an external partner or buyer would allow the shipyard to continue to offer an excellent repair facility close to the Cote d’Azur, home to many of the world’s largest yachts. But most importantly, this would preserve the network of local industries, specialising in yachting, allowing ITM to continue to offer the quality of service that has made the shipyard’s reputation what it is.
ITM’s managers hope to attract the attention of some of the largest international figures in the yachting industry who, either by personal experience or by reputation, are familiar with the potential of this exceptional site.
Bid application packs are available to all interested parties by contacting ITM’s administrative receiver, SCP BOUET GILLIBERT (Johanna Fabre). Applications will be received until 20th December 2013.
Visit International Technic Marine for further information.