Palumbo Group leases ex-Mondomarine facility

Italian yard Palumbo Group has acquired the former Mondomarine facility in Savona on an initial six-month lease. The deal preserves nine jobs following the liquidation of Mondomarine in 2017, which put a total of 57 jobs at risk.

It is understood that a new company named Savona Superyachts has been formed to operate the site, with a particular focus on refit projects. All of the part-finished Mondomarine projects have been shipped to other yards for completion.

In a statement, Palumbo Group said, “With the lease of the business unit of the Savona Shipyard, Palumbo Group will guarantee the restart of the shipyards. The objective is to proceed subsequently, following the expected final acquisition, to the reabsorption of a large number of Mondomarine employees of Savona.”

It is hoped that around 45 jobs can be rescued, although Palumbo Group has not ruled out the possibility of rehiring all former Savona employees. The acquisition comes after months of reported protests and a factory sit-in.

Mondomarine was formerly a major force in the Italian yacht market, with an impressive construction portfolio of more than 30 yachts over a 25-year period. Notable builds include the 49-metre (161-foot) Ipanema and the 60m (197ft) Sara Star, which were both launched in 2016.

The acquisition of the Savona site takes the total number of Palumbo Group facilities in Europe to eight.

For more information, visit Palumbo Group.