Ferretti Group acquires €40m production site in Ravenna, Italy

The Ferretti Group has acquired a 70,000sqm production site in Ravenna, Italy for €40m. The Italian shipbuilder will also invest a further €40m over the next three years in the build of new production facilities and a research and development centre on the site.

The new shipyard is located close to Ferretti’s Forlì headquarters and its Cattolica shipyard. The firm said that when fully operational, the new plant will increase the company’s production capacity by around 20%.

Alberto Galassi, CEO, Ferretti Group said: “We have found in Ravenna the right home for the sailing Wallys and for the expansion of our other brands, starting with the extraordinary Ferretti Yachts INFYNITO range.”

Galassi added that the acquisition of the shipyard was fully financed with equity gained from listing on the Hong Kong Stock Exchange.