Citing a weakened global megayacht market over the past three years, CRN has restructured.
Full details of the reorganization were not revealed to the media. CRN met with union representatives this morning to present the plan. However, CRN does say that it plans to expand both its own offerings and other brands built on site. Related to the latter, CRN will construct steel and/or aluminum yachts for two of its sister companies, Riva and Pershing.
The news regarding Riva was initially revealed in September, at the Monaco Yacht Show. That’s when the yards’ parent company, Ferretti Group, unveiled a new custom megayacht range for Riva, starting with a 50-meter model. The current flagship for Riva, the 122 Mythos, is an all-aluminum yacht, the first of the brand to employ metal. As for Pershing, all of its models to date, the largest being a 115, are constructed of fiberglass.
CRN further says it may add refit work to its regular offerings. The yard currently is refitting an unnamed 151-foot (46-meter) yacht it built within the past several years.
Also related to the reorganization, CRN has set up what’s called an Extraordinary Redundancy Fund. In Italy, a fund of this type provides unemployment pay for workers during a temporary shortage of work related to a market crisis or similar situation. The CRN Extraordinary Redundancy Fund will be in place for two years.
In a press release, CRN states, “This strategy of re-launch aims not only at generating an increase in the total turnover of the Company, but also at creating more opportunities for the Ancona shipyard, despite a quite complex marketing scenario. … The re-launching plan of the shipyard involves a company reorganization aimed at creating a strong production specialization optimizing and consolidating the know-how existing within the company, through important training interventions and investments in the productive areas considered as strategic.”
CRN says it remains focused on the 164- to 295-foot (50- to 90-meter) megayacht market. Currently a 180-footer (55-meter) and a 243-footer (74-meter) are in build. The smaller of the two should launch this year, known as CRN 134. She bears styling and interior design by Nuvolari-Lenard. The larger yacht, known for now as CRN 131, will feature an interior by Andrew Winch Designs. Construction started on her last spring, with an anticipated delivery next year. In the past few weeks, CRN also signed a contract for a 253-foot (77-meter) megayacht that was initially announced in early 2014 as a letter of intent. She’s for a Middle East client who plans to use the yacht in home waters. Laura Sessa is the interior designer for the project.
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