The world’s largest luxury yacht maker, the Italian company Ferretti Group now with Shandong Heavy Industry Group – Weichai Group will enjoy a strong capital base which will help drive its long-term development plans. After the acquisition, the Group will continue to uphold its operational principle of “unifying strategies and resources while operating independently” and will retain Ferretti’s key management team, headquarters and production bases in Italy. Mr. Norberto Ferretti, Chairman and Founder of Ferretti Group – declared: “We are very proud of this agreement with a prestigious partner such as SHIG—Weichai Group. We are strongly convinced that this partnership will lead to very satisfactory results and will provide Ferretti Group with a strong capital base which will allow the development of long-term growth plans. Moreover China is one of the most rapidly developing countries for the yachting sector and has great potential for the coming 5 to 10 years”.
The Italian yacht builder’s order portfolio is up 56 per cent on last year and the volume of new orders was up 27 per cent from the year previous. The value of production for the group for the year increased by 12 per cent in 2011 compared to 2009-2010. Ferretti Group also underlined its commitment to international expansion — including in Brazil and China — and to highlight product development. The group presented 11 world premieres at Cannes 2011 and plans to launch a total of 42 models between 2011 and the end of 2013.