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alt="Ferretti Group acquires Ravenna site"/>
Ferretti Group has acquired a 70,000sqm-plus production site in San Vitale, an inland location within Ravenna province on Italy’s Adriatic coast. The Ravenna site, which includes a dry dock, will be a multi-brand production facility and build Wally sailing yachts and Ferretti Yachts’ new Infynito range.
San Vitale is about 40 minutes’ drive northwest of Forli, home of the Ferretti Group headquarters and among the company’s sites on the country’s east side along with Cattolica, Mondolfo and Ancona, site of the Ferretti Group Superyacht Yard.
Financed entirely with equity raised by the recent listing on the Hong Kong stock exchange, the San Vitale site acquisition involved an initial investment of about €40 million and will be followed by a further €40 million over the coming three years to create new production areas and an R&D centre.
When fully operational, the new facility will increase Ferretti Group’s production capacity by about 20 per cent and forms part of the company’s growth strategy.
Alberto Galassi, CEO, Ferretti Group
Alberto Galassi, CEO of Ferretti Group, said: “The acquisition of this area keeps a promise we made. We have big plans and picture a state-of-the-art production site from every point of view: worker well-being, positive social impact, environmental protection – also by carefully selecting the materials used – and increased production.
“We choose Italy again and invest not only to become stronger but also to hold the flag high for an industry that is a symbol of our country: luxury yachting and the extensive entrepreneurship and artisan craftsmanship network that is the admiration and envy of the entire world.”
Over the last five years, the Group’s investment strategy has resulted in the expansion and improvement of all production facilities, in particular in Ancona and La Spezia on the west coast, which is home to Riva models from 76-130ft.
The Group’s facilities also include Riva’s historic home in Sarnico on Lake Iseo, while its yacht-building brands comprise Ferretti Yachts, Pershing, Riva, CRN, Custom Line, Itama and Wally.
www.ferrettigroup.com
www.ferrettigroupasiapacific.com
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