Ferretti Group has acquired a production site of over 70,000 square metres, including a dry dock, in San Vitale (province of Ravenna), Italy.

The acquisition involved an initial investment of about €40m and will be followed by a further €40m over the coming three-year period. That will be used 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 per cent. The acquisition has been financed entirely with equity raised by the recent listing on the Hong Kong stock exchange.

The Ravenna production site is 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,” says Ferretti Group CEO Alberto Galassi (pictured above). “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.”

Earlier this month, Ferretti announced that Wally (one of its brands) had sold the first hull of the new Wallywind110 sailing yacht. It’s described as a true hybrid ‘offering the volumes and comforts of a deckhouse yacht, but with a flush deck that features the spirit and the performance of a racing boat.’ 

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