Admiral Tecnomar, Italian company leader in the project and construction of large luxury yachts, announces to have completed the acquisition of Nuovi Cantieri Apuania, company active in shipbuilding, from Invitalia, the Italian National Agency for attraction of investments and enterprise development of Ministry of Economy and Finance.
As a result of this action rises The Italian Sea Group – one of the biggest conglomerate groups in Italian boating.
Three different hubs belong to this group:
Admiral Tecnomar - hub of luxury yachts and sail;
NCA - hub of high-tech value shipbuilding industry;
NCA Refit - active in refitting for large ships and yachts.
Contextually to the acquisition, Admiral Tecnomar presented an industrial plan characterized by three development routes:
1.    The consolidation of core business of mega yachts in aluminum and steel
2.    The development of activities in shipbuilding placing the attention on high-tech constructions
3.    The development of the particularly promising business of refitting and service for large ships and yachts, in partnership with high-qualified international brokers, collaboration that Admiral Tecnomar has been conducting for a long time.
In virtue of such an industrial plan, the actual occupational levels will be preserved thanks to the engagement in maintaining all 150 workers within the next two years. Furthermore, new investments in the NCA area are expected for about 8 million Euros.
Giovanni Costantino, Chairman of Admiral Tecnomar, stated: “We arrived to the conclusion of this acquisition with a total financial autonomy, real demonstration of the concreteness of our approach and of the solidity which differs our activity from others. Strong industrial synergies among the business areas of these two realities, especially from a productive, logistic and project point of view, but also concerning the technical know how, as a result of this acquisition.
“The decision to acquire NCA - continues the Chairman Costantino – stands on a meticulous evaluation of structural, economic and financial values of the company. The widening of the Admiral Tecnomar production capacity will allow us to gather all the opportunities on the market, particularly in the field of vessels superior to 50 meters. From a sales point of view, we are intended to operate on two different markets, but thanks to the grafting of such a solid competence in the shipbuilding, we want to give further authority to Admiral Tecnomar in order to reinforce its top position in the field of luxury mega yachts”.
Admiral Tecnomar is a reality in expansion which has become in a few years a reference point within the luxury boating sector.
The brand Admiral characterizes yachts from 35 to 80 meters of high-class and prestigious features whereas the brand Tecnomar yachts from 30 to 49 with features of sportivity and high-performance, combined to a highly refined design.
Despite the economic results obtained from the former properties, in the last three years Admiral Tecnomar registered a stable sales volume, which today attests 25 million Euros and a significant improvement of indicators which mark the positive operative management. In detail, from a loss of 10 million Euros in 2008, the 2011 counts a profit of 1 million Euro; the net worth transformed from a negative situation of 8 million Euros in 2008 to a positive change of 5 million Euros in 2011; the EBITDA, which in 2008 was negative for 6,3 million Euros, in 2011 has reached the positive goal of 4,5 million Euros.
For further information
Admiral Tecnomar – Yachting Hub of The Italian Sea Group
Marketing Dept.
Via Massa Avenza 85
Massa [MS], 54100 - Italy
Tel. + 39 0585 5062
Direct Line +39 0585 506217
Fax + 39 0585 506250