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MondoMarine Yard In Savona Acquired By Palumbo Group

Discussion in 'MondoMarine Yacht' started by Yacht News, Jan 4, 2018.

  1. Yacht News

    Yacht News YF News Editor

    Mar 29, 2006
    Italian yard MondoMarine got into difficulty (bankruptcy) last year and now has led to the latest developments. The MondoMarine yard in Savona has been acquired by the Palumbo Group. The bankruptcy saw the loss of nearly 60 jobs but the Palumbo Group has taken over the Savona yard at least initially for a 6-month period. With this, the name has changed to Savona Superyachts and will focus for now on refit work. The unfinished superyachts that were in the works were sent to other yards for completion. With this Savona site in hand, it now takes the Palumbo Group's facilities in Europe to eight. Hopefully when the full acquisition is worked out, that the Palumbo Group can reinstate all of the former MondoMarine workers but that is left to be seen.