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Palumbo Group acquires ex-Mondomarine facility at Savona

Italian yard Palumbo Group has acquired the former Mondomarine facility in Savona on an initial six-month lease.

The deal sees nine jobs rescued following the bankruptcy liquidation of Mondomarine last year, which put a total of 57 jobs at risk.

It is understood that a new company called Savona Superyachts has been formed to operate the site, with a focus on refit projects — all of the part-finished Mondomarine projects have now been shipped to other yards for completion.

In a statement, Palumbo Group said: “With the lease of the business unit of the Savona shipyard, Palumbo Group will guarantee the restart of the shipyards.

“The objective is to proceed subsequently, following the expected final acquisition, to the reabsorption of a large number of Mondomarine employees of Savona.”

Following discussions with the local worker’s union, it is hoped that around 45 jobs can be saved, but the company has not ruled out rehiring all former Savona employees. The news comes after months of protests and a factory sit-in, reports local news publication La Stampa.

Mondomarine was formerly a major player in the Italian yacht market, building more than 30 yachts over a 25 year period, including the 49.2 metre Ipanema (pictured above) and the 60.22 metre flagship Sara Star, which made her Monaco Yacht Show debut as recently as September 2017.

The acquisition of the Savona site takes the total number of Palumbo Group facilities in Europe to eight.