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Palumbo Group new owners of Mondomarine facility in Savona

Business
Written by
Georgia Tindale

The Italian shipyard, Palumbo Group, has become the owner of the former Mondomarine facility in Savona, Italy, on an initial lease of six months. The Mondomarine shipyard faced serious financial trouble and underwent bankruptcy liquidation last year. This deal with Palumbo Group sees nine jobs rescued following the liquidation, which put 57 jobs at risk. 

Mondomarine Shipyard

In a statement, Palumbo Group said, "By leasing the business unit of the Savona shipyard [...] Palumbo Group will grant the restart of the [shipyard's] activities, along with the immediate reinstatement of nine employees. The aim is to further reinstate a good part of Mondomarine Savona workers, as a consequence of the desired, final acquisition."

They continued, "The entry into Mondomarine represents a new, important step for Palumbo in its strategic development plan concerning its network of shipyards in the Mediterranean, and, of course, the new build division."

Ipanema cruisingThe 49.2-metre Ipanema, completed in 2016, was one of the last yachts to be built at Savona by Mondomarine 

All of the partially finished projects from Mondomarine have been shipped to other shipyards for completion. It is also understood that a new company called Savona Superyachts will now be operating the site, with a focus on refit projects. 

Before its liquidation, Mondomarine had been a key player in the Italian yacht market and built more than 30 yachts over a 25 year period, including the 60.22-metre flagship Sarastar, the 40.8-metre Okko and the 49.2-metre Ipanema.

After discussions with a local worker's union, around 45 jobs at the shipyard could be saved, but the company has also not ruled out rehiring all previous Savona employees. This follows months of protests and a factory sit-in which were reported by the local newspaper La Stampa. 

Palumbo Group's acquisition of Mondomarine's site takes their total number of European facilities up to eight. 

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