Ferretti to partner with Shandong Heavy Industry Group
Published: Tuesday, 26 July 2011
Ferretti and Shangdong Heavy Industry Group, a Chinese based firm that builds construction and mining machinery, have signed a memorandum of understanding that could see Shandong investing up to €100 million into the Ferretti Group, and see the opening of an Asian manufacturing and distribution joint venture, according to reports in Italian and yachting media. Shandong is to acquire a small stake in Ferretti (currently co-owned by the company’s top management and Mediobanca), while Ferretti is to offer exclusive rights to produce and distribute Ferretti yachts in Asia. Ferretti Group designs and builds motoryachts under the Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN and Ferretti Custom Line brands.