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Talk:Ferretti Group

Latest comment: 21 hours ago by CateSof1453! in topic Translation proposal to improve the content of the "History" section
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Translation proposal to improve the content of the "History" section edit

Latest comment: 21 hours ago1 comment1 person in discussion

Hi everyone, while reading the article I noticed that some contents of the "History" section could have been improved and deepened. I have therefore worked on translating some contents from the Italian corresponding version of the article, which seem to flow better.

You can have a look at the proposal in the box below, where I have crossed out the redundant and/or impossible-to-verify passages and highlighted in yellow the paragraphs and the references that I would suggest integrating. What do you think? Thank you very much in advance for your help --CateSof1453! (talk) 13:36, 23 May 2024 (UTC)Reply

Translation proposal to improve the content of the "History" section

History

1968 to 2000

The company was founded in 1968 by Alessandro and Norberto Ferretti and produced its first motor sailer in 1971.[1] During the 1980s, the two brothers decided to specialize in the production of luxury motoryachts. They established a new unit in Forlì, which today houses the company headquarters.[2]

In 1968, brothers Alessandro (1937 - 1996) and Norberto Ferretti (1946), sons of a fuel trader who also owned a car dealership in Bologna, decided to expand the business to the nautical sector after securing the Italian representation for the US motorboat brand Chris Craft. They subsequently opened a multi-window shop, Ferretti Nautica, in the city centre.[2]

The first self-built boat was launched in 1971 at a shipyard in Cattolica, using the hull of an 11-metre fishing boat.[2] This boat was presented at the Genoa Boat Show as Ferretti Craft,[3] marking the beginning of the company's first orders. Four years later, in 1975, the Ferretti brothers permanently abandoned the motor industry[3] and opened their shipyard in San Giovanni in Marignano.

Since the 1980s, production has focused exclusively on motorboats, incorporating advanced technological solutions, such as the thousand-litre tanks and the so-called 'round shower'.[2] In 1982, the company introduced its first motor-only boat and began producing sport fisherman open and flybridge type boats.[3] In 1987, when sales were already around a hundred boats a year, the Forlì shipyard was opened, which has since then also become the company's headquarters.[2]

In 1989, the Engineering Direction, a research centre dedicated to the design and development of new production boats and innovative materials, was founded.[3]

The company also entered the world of sport: Norberto Ferretti competed in Class 1, the most prestigious offshore category, with one of the first carbon-fibre boats, and in 1994 he became world champion.[4] In 1997 his team won a second world title.[2] In 1996, Alessandro passed away at the age of 54 in a tragic accident, while mowing the grass at his villa in the hills of Bologna.[5]

In the early 1990s, Ferretti Group started an internationalisation process. In 1993, Ferretti of America, Inc. was founded to market motoryachts in the United States, Canada, Mexico, Venezuela and the Caribbean.[2] Ferretti of America liaised with the sales network that was already present in Greece, France, Spain, Germany and Great Britain, increasing the impact of Ferretti sales abroad.[2]

In 1994, Ferretti Group began an international marketing process by establishing a strategic network of dealers outside Europe. During the second half of the 1990s, after institutional investors acquired a stake in the company, an external expansion strategy was initiated through the acquisition of companies producing luxury motoryachts.[2]

In 1996, Ferretti Group began operating in the segment of yachts with fibreglass flybridges, measuring 28 to 40 metres in length, through Custom Line S.p.A.[6]

In 1998, the Group purchased Cantieri Navali dell’Adriatico – CNA S.r.l., which specialized in building open type motor boats with the prestigious Pershing brand.[7]

During the same year, Ferretti Group entered in the sport fisherman craft segment with the acquisition of American company Bertram Yacht, Inc. - the Miami shipyard.[8] Bertram Yacht was sold in 2015.[9]

In 1999, Ferretti Group purchased CRN S.p.A., a shipyard specialising in the production of maxiyachts in fibreglass and megayachts with steel hulls and aluminium superstructures, measuring over 30 metres in length.[10]

2000 to 2010

 
Ferretti model 68' (2005) cruising at 31 knots.
 
Pershing 72, European Powerboat of the Year 2008 in the category 50 feet and over

In the year 2000, Ferretti purchased 100% of the capital of Riva S.p.A., a producer of luxury fibreglass yachts measuring 10 to 35 metres in length, both flybridge and open.[11]

In June 2000, with the aim of further consolidating its growth and development process, Ferretti Group decided to list on the Official Italian Stock Exchange (MTA).[12] In 2001, the company was admitted to the STAR segment (High Requisite Share Segment) of the Borsa Italiana (Italian Stock Exchange).[12]

In May 2001, Ferretti acquired the assets of the Oram shipyard in La Spezia, where the new Riva production area would subsequently be built.[13]

In August 2001, Ferretti finalized an agreement for the acquisition of the Apreamare S.p.A. shipyards in Sorrento, a leader in the production of gozzo sorrentino boats measuring 7 to 16 metres in length.

In November 2001, acquisition of the Mochi Craft S.r.l. shipyard in Pesaro was finalized.[14]

In 2002, the Group took over Diesse Arredamenti, in order to acquire new skills in the nautical furnishings sector, complementary to its yacht building activity.[15]

In 2002, the Group also finalized acquisition of Cantiere Navale Mario Morini in Ancona, which enabled CRN to extend its production capacity,[16] Pinmar S.L., a company specialized in yacht painting and refitting, and Zago S.p.A., an Italian company operating in high-profile wooden manufactured pieces and furnishings.[17]

Between June 2002 and January 2003, the Ferretti management team and institutional investors present among the shareholders (Permira), decided to launch a Voluntary Public Tender Offer to acquire the entire share capital of the Company, with the aim of further expanding the Group through acquisitions and a precise strategic, national and international plan.

In 2004, through Pershing, Ferretti Group acquired the Itama shipyard, which specializes in the construction of open motoryachts, completing the definition of the Group.[18]

In 2008, Ferretti Group acquired the assets, brands and activities of Allied Marine, an American company specialized in After Sales services and marketing of both new yachts and pre-owned motor yachts, as well as brokerage services on the US market.[19]

The Group's equity was divided between Norberto Ferretti and the management (38.2%), Mediobanca (8.8%), and senior and mezzanine lenders (the latter with a total 53% in exit participation rights). Norberto Ferretti, the Group's management and Mediobanca held 100% of the Group's voting rights.

2009 to present2023

 
A Mochi Craft Long Range 23

In 2009, to align to the new market scenario, Ferretti Group changed its organisational structure and undertook a series of strategic and operative actions. In December, with the aim of continuing to focus on its core business, the Ferretti Group sold its 60% holding in Pinmar S.L., a Spanish company specializing in painting mega-yachts to Irish entrepreneur Sean Ewing.[20]

In March 2010, Ferretti continued its divestment policy by selling 100% of Apreamare S.p.A., which included the nautical pole of Torre Annunziata (Naples), to the Aprea and Pollia families, the founders of the historic Sorrento brand.[21]

In 2010, Ferretti Group Brasil was established. Finally, in 2012, Ferretti was acquired by the Chinese multinational heavy machinery and automotive manufacturing company Weichai Group. In January 2012, Shandong Heavy Industry Group-Weichai Power, a Chinese state-controlled manufacturer of excavators and tractors, acquired 58% of Ferretti Group for EUR 374 million. At the time of the transaction, Ferretti had a debt of EUR 600 million. The management was, in any case, reconfirmed by the new shareholders.[22]

In September 2013, the new Ferretti brand structure was presented, consisting of three product lines: Ferretti Yachts, Ferretti Custom Line and Ferretti Navetta.[23] At this stage, the Group owns the Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN and Custom Line brands.

In 2016 Piero Ferrari, Enzo Ferrari's son, joined the Ferretti Group by purchasing 13.2% of the capital through the family holding company F Investments,[24] thus becoming the sole shareholder besides the Chinese Weichai Power Group, majority holders with 86.8%. Back in profit after two years, in 2017 the Ferretti Group presented the 74-metre-long mega-yacht "Cloud 9" in Monaco.[25]

Two years later, the company entered the sailing world for the first time by acquiring Wally, a company founded by Luca Bassani.[26]

On 17 October 2019, the Group renounced its listing on the Milan Stock Exchange due to a too low offer price, which fell from the initial range of EUR 2.5-3.7 to EUR 2-2.5.[27]

In September 2022, the company finalised the acquisition of a majority stake in two companies that are part of its supply chain: Massello Srl and Fratelli Canalicchio Spa, the former specialising in wooden furniture for yachts, the latter in the production of static exteriors and automatic kinetic systems.[28]

In March 2023, the Group acquired from Rossetti Marino the San Vitale shipyard, a production site of over 70,000 square metres in the port of Ravenna, allocating it to the construction of Wally sailing yachts and the Ferretti Yachts INFYNITO range.[29]

As of 31 March 2022, the company is listed on the Hong Kong Stock Exchange and as of 27 June 2023 also on the Milan Stock Exchange.[12]

References

  1. ^ Cite error: The named reference GQItalia was invoked but never defined (see the help page).
  2. ^ a b c d e f g h i "Ferretti, 40 anni di navigazione" (in Italian). Retrieved 6 March 2024.
  3. ^ a b c d "Le imbarcazioni più belle della flotta Ferretti Yachts" (in Italian). Retrieved 23 May 2024.
  4. ^ "Norberto Ferretti, ho gettato il cuore oltre l'ostacolo" (in Italian). Retrieved 23 May 2024.
  5. ^ "I cinesi salvano un'eccellenza del Made in Italy" (in Italian). Retrieved 23 May 2024.
  6. ^ "Custom Line di Ferretti Group, il meglio dell'esperienza di navigazione" (in Italian). Retrieved 6 March 2024.
  7. ^ "Fulvio De Simoni, 30 anni con Pershing. Una grande storia" (in Italian). Retrieved 6 March 2024.
  8. ^ "Winning in Races Propelled Bertram to Win in Production, Too". Retrieved 2014-09-28.
  9. ^ "New ownership for Bertram Yachts". Retrieved 6 March 2024.
  10. ^ "How the shipyard established itself and developed further". Retrieved 6 March 2024.
  11. ^ "Riva Cantiere - Archivio Fondazione Fiera Milano" (in Italian). Retrieved 23 May 2024.
  12. ^ a b c "Ipo Ferretti: il gruppo di yatch di lusso torna in Borsa il 27 giugno (dopo 23 anni)" (in Italian). Retrieved 23 May 2024.
  13. ^ "Ferretti spa approda a La Spezia" (in Italian). Retrieved 23 May 2024.
  14. ^ "Mochi Craft, il moderno anni cinquanta" (in Italian). Retrieved 23 May 2024.
  15. ^ "Trent'anni per gli interni degli yacht di lusso, azienda forlivese celebra la filiera della nautica" (in Italian). Retrieved 23 May 2024.
  16. ^ "Ferretti acquista cantieri Mario Morini di Ancona a due mesi dal delisting" (in Italian). Retrieved 23 May 2024.
  17. ^ "Zago - Storia" (in Italian). Retrieved 23 May 2024.
  18. ^ "Cantiere Itama di Ferretti Group, la storia degli Open disegnati dal mare" (in Italian). Retrieved 23 May 2024.
  19. ^ "Ferretti completa l'acquisizione da 50 mln di $ di Allied Richard Bertram Marine Group" (in Italian). Retrieved 23 May 2024.
  20. ^ "Ferretti and Pinmar part company". Retrieved 23 May 2024.
  21. ^ "Apreamare ritorna a Sorrento, riacquistato da Aprea e Pollio" (in Italian). Retrieved 23 May 2024.
  22. ^ "Superyacht Builder Ferretti Sold to Chinese Bulldozer Maker". Retrieved 23 May 2024.
  23. ^ "Ferretti Group, ordini su del 2,3% e nuovo marchio" (in Italian). Retrieved 23 May 2024.
  24. ^ "Piero Ferrari azionista Ferretti Group" (in Italian). Retrieved 23 May 2024.
  25. ^ "Galassi: "Con i cinesi ho riportato la Ferretti all'utile"" (in Italian). Retrieved 23 May 2024.
  26. ^ "Ferretti Group: conti a posto e acquisizione di Wally" (in Italian). Retrieved 23 May 2024.
  27. ^ "Ferretti rinuncia alla quotazione. Prezzo troppo basso. Verso il private placement in primavera" (in Italian). Retrieved 23 May 2024.
  28. ^ "Ferretti Group acquires Masello Srl and Fratelli Canalicchio SpA". Retrieved 23 May 2024.
  29. ^ "Ferretti Group acquisisce per 80 milioni di euro un cantiere a Marina di Ravenna. Sarà la "casa" di Wally a vela e per la gamma Ferretti Yachts INFYNITO" (in Italian). Retrieved 23 May 2024.
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