FERRETTI GROUP ACQUIRES A NEW PRODUCTION SITE IN RAVENNA

Forlì, March 20, 2023 – Ferretti Group announces the acquisition of a production site of over 70,000 square metres, including a dry dock, in San Vitale (province of Ravenna).

The acquisition involved an initial investment of about 40 million euros and will be followed by a further 40 million over the coming three-year period to create new production areas and an R&D centre. The operation forms part of Ferretti Group’s growth strategy and the new facility, when fully operational, will increase production capacity by about 20%. The acquisition of the new Ravenna shipyard has been financed entirely with equity raised by the recent listing on the Hong Kong stock exchange.

The new production site in the province of Ravenna is strategically located, close to the company’s Forlì headquarters and its Cattolica shipyard. This operation consolidates the Group’s investment strategy, which over the last five years has resulted in the expansion and improvement of all production facilities, and the La Spezia yard and the Ancona Superyacht Yard in particular.

"The acquisition of this area keeps a promise we made. We have big plans and picture a state- of-the-art production site from every point of view: worker well-being, positive social impact, environmental protection – also by carefully selecting the materials used – and increased production. Ravenna is the right home for Wally sailing yachts and the expansion of our other brands, starting with the extraordinary Ferretti Yachts INFYNITO range.

We choose Italy again and invest not only to become stronger, but also to hold the flag high for an industry that is a symbol of our country: luxury yachting and the extensive entrepreneurship and artisan craftsmanship network that is the admiration and envy of the entire world,” said Ferretti Group CEO Alberto Galassi.

Ferretti Group

Thanks to Italy’s centuries-old yachting tradition, the Ferretti Group is a world leader in the design, construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of prestigious and exclusive brands: Wally, Ferretti Yachts, Pershing, Itama, Riva, CRN and Custom Line. Led by Chief Executive Officer Alberto Galassi, the Ferretti Group owns and manages seven shipyards located across Italy, which combine the efficiency of industrial production with typical world-class Italian craftsmanship, reaching customers in more than 70 countries across the world thanks to a direct presence in Europe, the United States of America and Asia and its network of approximately 60 carefully selected dealers. The Ferretti Group motor yachts, utmost expression of Made in Italy elegance and creative genius, have always stood out for their exceptional quality, cutting-edge technology, record safety and optimum performance in the sea, as well as their exclusive design and timeless appeal. For more information: For more information: www.ferrettigroup.com 

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