Palumbo Group acquired ISA Yachts’ facilities in Ancona

Palumbo Group has just bought a shipyard in Ancona, ISA Yachts, which had been in difficulty for the past year. The group, running the Cospicua shipyard, will now consistently increase its construction capability for superyachts.
“Acquiring this historic shipyard is a great opportunity for our group, but more importantly we have decided to save the jobs of all 101 workers, whose livelihood has been in the balance for the past year,” said Antonio Palumbo, the Group’sCEO. “The unions in Ancona have welcomed the news as the previous company had not been able to secure work since 2013. Palumbo will now be injecting a new lease of life into the sector.”
He added: “The Ancona shipyard provides our group with very important infrastructure. Before, we could only build one superyacht at a time in our Naples yard, but this enables us to build three to four of these luxury mega yachts at one go.”
Palumbo added that the group’s ongoing expansion will create new opportunities, in terms of synergy and professionalism, to optimise on all activities.
Palumbo Group, owning already the shipyard in Naples, the former ITM yard in Marseilles and the Santa Cruz shipyard in Tenerife, may soon become one of the leaders in Europe.