Palumbo Group Set To Take Over Mondomarine

Palumbo Group has officially confirmed its takeover of Mondomarine shipyard on an initial six month lease. Mondomarine is a historic Italian shipyard based in Savona which had reportedly been in trouble for months before legal mediation led to the closure of the business at the end of December 2017.

By leasing the business unit of the Savona shipyard for a period of six months, Palumbo Group will enable work to recommence and will grant the the immediate reinstatement of nine employees. In due course, it is the company's aim to reinstate a significant number of the Mondomarine Savona workers, as a consequence of the desired, final acquisition.

Following the recent acquisition of the ISA Yachts shipyard in Ancona, which is now one of the Group's main superyacht production sites, the takeover of Mondomarine represents a new, important step for Palumbo in its strategic development plan concerning its own network of shipyards in the Mediterranean and, of course, the new build division.

Palumbo Superyachts Division, with the Columbus Yachts and ISA Yachts brands respectively dedicated to the construction of custom and semi-custom yachts, is, in fact, a thriving and expanding company that draws strength from the Group's 50 year's experience in the nautical refit-repair and new build sectors and from its indisputable economic stability.