Sanlorenzo will absorb Perini Navi

Italian shipbuilding companies came out of the “coronavirus vacation” and began to feel the first effects of the economic crisis caused by the pandemic. One of those shipyards, which turned out to be unsure of their future, was Perini Navi, specializing in the construction of sailing and motor superyachts and known for creating the 88-meter three-masted sailboat Maltese Falcon with the innovative mast DynaRig.

According to the Italian newspaper Milano Finanza, Perini Navi’s turnover is € 55 million, losses are € 25 million, and debt to banks and suppliers is € 55 million, which is equal to the company’s turnover. It seems that the grandiose development plans that the shipyard shared during the exhibition in Monaco in the fall of 2019 will have to be forgotten until better times.

It is already known that the saviors of Perini Navi will be colleagues and compatriots from Sanlorenzo. It is planned that the shipyards will actually create a new company in which 70% will be controlled by Sanlorenzo, and the remaining 30% – by the Tabacca family, which today owns 74% of Perini Navi. To implement the plan, both parties will need investments with a total amount of € 40 million – an amount equal to the contribution of the Tabacca family to Perini Navi since October 2018. Sanlorenzo will invest € 30 million in Perini Navi, the Tabacca family the remaining € 10 million.

Experts fear the creation of a monopoly of the shipbuilding industry in Viareggio through the merger of Sanlorenzo and Perini Navi, which will require a review of local concession agreements.

Sanlorenzo was one of the first Italian shipyards to open after quarantine. The restoration of work began in mid-April. On May 20, the first hull of a 44.5-meter all-aluminum yacht with a 44Alloy fast displacement hull was launched, which has been under construction since 2017.

 

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