The future of the yacht builder Mondomarine is finally set. Following negotiations dating back 11 months, Palumbo Superyachts, the parent for a handful of new-build and refit sites in Europe, has formally brought the brand into its fold.
The yacht division of the Palumbo Group, Palumbo Superyachts finalized the deal last week. The Port Authority of Savona in Italy granted it a 20-year land concession. The land concession was necessary because the site is on city-owned property. Mondomarine occupied about 323,000 square feet (30,000 square meters), including a joinery and metal shop, warehousing, 12 hard-standing places for yachts, several slips, and offices for captains and crew.
The builder operated in Savona until it filed for bankruptcy liquidation late last year. You might remember that Palumbo Group took over Mondomarine weeks later, in December. It began operating the site as Savona Superyacht, pursuing both refit and new-build contracts. In fact, in January of this year, the 175-foot (53-meter) Kinta underwent work there. However, the operational agreement was only for six months.
Even with that, thought, Palumbo Superyachts’ management team made it clear the company had a long-term vision and commitment. “We have been working on this for almost a year because we strongly believe in the potential of the renowned brand of Mondomarine and the geographic location of the shipyard,” explains Giuseppe Palumbo, the company CEO. Mondomarine’s history goes back to 1987, though the actual shipyard is quite historic. It’s the 103-year-old Cantieri Navali Campanella. As for Savona, it’s about an hour’s drive from Monaco.
Already, Palumbo Superyachts says designers are refreshing the brand’s offerings, while preserving its ties to the past.
In the meantime, Mondomarine is now part of a portfolio that counts eight shipyards across Europe. Specifically, Palumbo Superyachts operates ISA Yachts and Columbus Yachts, both well-known new-build brands. In addition, Palumbo Superyachts has refit sites in Italy, Malta, France, Spain, and Croatia. Finally, it has an office in Monaco.
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