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Ferretti group selling to China’s Shandong Heavy Industry Group.

Discussion in 'Ferretti Yacht' started by SHAZAM, Dec 25, 2011.

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  1. SHAZAM

    SHAZAM Senior Member

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    LOL! Could this mean that Bertram is to China?! Original article can be found here...



    I think we need to pay particular attention to that last paragraph...

    "The deal is the latest example of a Chinese investor buying a well-known western brand. In 2009, Dalla Pieta, the Venetian superyacht maker, was bought by Chinese-owned Millennium Marine, which transferred its moulds and technology to China."
  2. dennismc

    dennismc Senior Member

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    We must remember that Japan played a similar role in the world economy before it's close relationships between bankers, companies and Government helped it's economy into the dumper,is still in a recovery mode, we did all get sort of used to that first big spike in global economics and it is going to continue in one form or another, personally I find it economically odd that China would want anything to do with an outfit that's virtually bankrupt except (politics) or to take over some technology or moulds that really have not proven that successful otherwise Ferretti would be more successful than it is.
  3. NYCAP123

    NYCAP123 Senior Member

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    It'd sure scare me away from buying any boat from the Ferretti Group, both for their financial situation and especially China's involvement.
  4. SHAZAM

    SHAZAM Senior Member

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    You could say that about any number of builders today, frankly I look at any new boat purchase today no differently than a used boat purchase. Considering the fragile health of most boat builders today, buying a new boat is essentially no different than an "as is where is" purchase if anything major pops up.

    The quality of Ferretti products of late has been rather spotty IMO, I would hate to even imagine things getting worse under Chinese ownership!
  5. NYCAP123

    NYCAP123 Senior Member

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    I have for quite some time.
    That works for me when it's a $500 hoopty. Not sure I'd go for it when laying out $2 or 3M.
    I'd be hard pressed to name a product who's quality improved with Chinese hands involved anywhere in the process.
  6. dennismc

    dennismc Senior Member

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    Well, we are teaching them aren't we ?? as long as we export expertise it will come back in spades to haunt us.
  7. Anderschou

    Anderschou New Member

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    Toyota redux?

    If you go back to the early days of Toyota, and their entry into the American market, you might find an object (or abject, take your choice) lesson.

    Certain elements of Japanese manufacturing have been investing heavily in China and S.E. Asia for a while.

    We shall see. . .

    Anderschou
  8. nilo

    nilo Senior Member

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    politics again

    gentlemen the financial situation of china is much better off than italy; so at least they must be doing somethings better. otherwise, we will not be buying their products just because they are cheap.

    all i want to say, there is need for the developed world to assess what has been going wrong deeply instead of taking this change lightly and attributing the developments to reasons which do not engulf the whole story. boat building cannot stay out of this process...
  9. Liam

    Liam Senior Member

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    If you know a bit the story Ferretti Group crisis came because an investing bank from Britain blew up the value (approx 2 billl EUROS) in good 2007, and debted on this.
    The story of Dalla Pieta is also false in that FT article as they are still building in Italy, altough 90% is owned by Millenium marine.
    You have a niche product it does not work the way many people are thinking. People who buy a Ferretti wanted it to be made in Italy. Now if thats good or bad thats something else.
    Ferretti is selling well and if they are bad everyone is much worse. There order book is first world wide, if persons outside YF have not noticed....
    There is still no offcial word about this from the company so I am sure discussions are under way and Norberto should remain on the helm and with a share.
    Someone needs to set some things straight here...
    In the end most of CHina yacht builds come from US corporations, do they not...

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