Cantieri di Pisa & Mondomarine May Still Seek New Ownership

Mondomarine’s owners still wish to secure a buyout by the fall. The news comes following a meeting about the future of Mondomarine and its sister shipyard, Cantieri di Pisa.

According to a few Italian media outlets, Gianfranco Simoncini, adviser to the Regional Councilor of Tuscany on labor issues, called the meeting on July 28. Representatives for the yards and its labor unions attended. There, Mondomarine reportedly requested a continuous-agreement path prevail. In fact, according to the media, Mondomarine says this agreement automatically took hold once a potential sale failed in June.

That sale involved Shandong Ocean Investment Co. Based in Beijing, Shandong Ocean specializes in marine transport and logistics. Talks between Mondomarine and the company apparently began in May. Mondomarine management anticipated having a deal by early June, further informing employees of this. However, nothing resulted.  

Also during the July 28 meeting, Mondomarine reiterated its desire to find a buyer within four months. It initially announced that goal on July 5, in an appeal with an Italian bankruptcy court. Several creditors sought a formal declaration of bankruptcy to secure money owed. Interestingly, according to the media reports, Mondomarine now says it may seek separate buyers for each shipyard. Apparently, several parties are already eyeing Cantieri di Pisa, with some of them additionally visiting the facilities to evaluate the potential.

Simoncini has set another meeting for September 7, to work out a more concerted plan. Meanwhile, the craftspeople laid off back in March remain without work.

Mondomarine’s current ownership team took over the Mondomarine yard, located in Savona, in 2013. It invested in the infrastructure, to streamline operations. The owners planned to add new-build projects to 262 feet (80 meters) LOA, too. Cantieri di Pisa, meanwhile, came into the fold in 2014. Situated in Pisa, it focuses on motoryachts to 131 feet (40 meters).

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