Chinese company buys bankrupt Cantieri Navali di Lavagna (CNL)

According to the Financial Times, a Chinese company bought Cantieri Navali di Lavagna (CNL) today at auction through administrators appointed by a Milan court. CNL sold for โ‚ฌ13.1m to ProMarine Service, an Italian company owned by Chinaโ€™s Nautic Star Marine.

CNL is known for building fast planning light aluminium superyachts, such as the Admiral brand yachts. The yard went bankrupt earlier this year, after fallen victim to the 2008-09 recession.

By Maarten Janssen

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