Italy's Admiral Tecnomar yard announces the acquisition of Nuovi Cantieri Apuania from Invitalia, the Italian national agency for investments at the Ministry of Economy.
The purchase means the formation of The Italian Sea Group – one of the biggest conglomerates in Italian boating. The Italian Sea Group will now consist of Admiral Tecnomar, focussed on building luxury yachts, NCA, suppliers of high-tech products and NCA Refit, specialising in refitting superyachts.
The move also preserves the jobs of 150 craftspeople and a further investment of €8 million is promised.