The Italian Sea Group signs a new loan agreement

THE ITALIAN SEA GROUP signs a loan agreement of up to 20 million euros with UniCredit and Deutsche Bank to support its multi-year investment plan.

Marina di Carrara, 13 May 2020. The Italian Sea Group, one of the most important international players in the luxury yachting industry, has signed a loan agreement with UniCredit and Deutsche Bank for a maximum amount of up to € 20 million to support its multi-year investment plan.

The financing will allow The Italian Sea Group to expand the production spaces so that to permit the company to increase its production capacity and to expand the refitting activities that are carried out in the dry dock used together with the docks and other facilities of the construction site.

Located in the heart of the well-known Italian boating district, the shipyard of The Italian Sea Group in Marina di Carrara, rebuilt on an area of ​​over 100 thousand square meters of which 30 thousand dedicated to refitting, today boasts unique facilities in the world: 2500 meters of quay and 200 meters of dry dock, production spaces that make it the largest nautical structure in the Mediterranean and which have allowed, over the years, to support the increase in size of orders; 11 distinct production areas, 1,000 tons of lifting capacity and floating barge for lifting megayachts up to 100 meters, with a capacity of 2,700 tons.

With this loan, UniCredit and Deutsche Bank will contribute to supporting the growth projects of the Company, which currently employs around 300 direct employees and has an additional 800 collaborators in the area.

I am very proud to have two important partners such as UniCredit and Deutsche Bankcomments Giovanni Costantino, President of The Italian Sea Groupwhich believe in our development plans, in the solidity of the company and in our ability to look concretely towards the future to seize the opportunities the market offers us. In a difficult context such as the one we are currently living in, we have confirmed all the investment plans that we planned, proving our strength and characteristics which in just over a decade have made us one of the major international players in our own industry“.

This financing operation – underlines Andrea Burchi, UniCredit Center-North Regional Manager – testifies the commitment of UniCredit to support local businesses in the implementation of their growing plans. Today we feel even more responsible when it comes to guarantee all our support for the economy of our country and strengthen our intervention in favor of Made in Italy excellence“.

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