icon-tableticon_arrow_downicon_arrow_lefticon_arrow_left_largeicon_arrow_righticon_arrow_right_largeicon_arrow_upicon_backicon_bullet_arrowicon_bullet_doticon_callicon_closeicon_close_largeicon_compareicon_facebookicon_favouriteicon_googleplusicon_grid_officon_grid_onicon_informationicon_instagramicon_menuicon_messageicon_minusicon_pinteresticon_plusicon_quote_endicon_quote_starticon_radio_onicon_refreshicon_searchicon_shareicon_staricon_tick_onicon_twittericon_video_play

Subscribe to our mailing list

Newsletter Preferences

Choose one or more newsletters
No, thanks

Superyacht builder CNL becomes Chinese takeaway

Yesterday's Financial Times reported that a Chinese company has bought Italy's bankrupt Cantieri Navali di Lavagna (CNL) yard through the company's administrators. CNL was sold at auction on Monday for €13.1 million to ProMarine Service, an Italian company owned by China's Nautic Star Marine.

Italy, the world leader in building superyachts, saw a collapse of more than 30% in overall yacht production last year, with revenues collapsing to €4.25 billion.

A spokesman for ProMarine Service stressed that production would be kept at the present facility with its current 15-strong workforce.

It's worth bearing in mind, however, that well-known Venetian yacht builder Dalla Pieta' had a very different experience last year as its new Chinese owners transferred moulds and techniques to China. The Italian staff were offered jobs in China but declined.

Loading content...
Show all results for “%{term}