Palumbo Group Takes Over Mondomarine

Due to an agreement finalized in the last days of 2017, the Palumbo Group is now in charge of operations at fellow Italian megayacht builder Mondomarine. The agreement, approved by an Italian bankruptcy court and labor unions, is just for six months. However, it allows nine Mondomarine employees to return to work as of January Continue reading

PHOTO: Facebook/Mondomarine

Search & Seizures at Mondomarine Offices

The Italian fiscal police searched three Mondomarine offices in Italy this week, removing items from each. It’s the latest development in an investigation into the builder’s business operations. Mondomarine’s problems became public in March, when it laid off 100 workers. The shipyard’s owners began seeking a buyer by summertime, to avoid being forced into bankruptcy Continue reading

ISA Yachts’ New Shed Opens Next Month

Following its acquisition by the Palumbo Group, ISA Yachts’ expansion is making progress. In fact, by the end of June, a newly constructed build shed will be ready to welcome its first projects. Palumbo Group officially acquired the defunct yacht yard in Ancona, Italy, last August. Just recently, it renamed the facility Palumbo Ancona Shipyard Continue reading