Amico & Co: Acquisition of mega-yacht refit works

Amico & Co shipyard has been constantly improving its position in the megayacht market in last two years. The current 2013-2014 order portfolio actually includes 8 units between 50-90 meters length, 5 of which are already in the yard. These orders represent approx. 35% of the estimated workload for the entire season, which counts on average up to 85 projects, ranging from service, refit and repair.

At the time being , Amico & Co has in progress acquired 2 projects for 2 American clients (86 and 65 meters), and other 4 yacht+60 m will be drydocked and refitted within the end of 2013, while the others will be executed within the Amico & Co facilities. The longest project involves a 6-month interior refit of an 86-meter, in cooperation with “Oceanco”, one of the world leaders in the construction of mega-yachts, in the top segment of the market.

The high quality standard of the finishing painting, achieved with an impressive track record of more than 50 paint projects successfully delivered in last 8 years, has been recognized as a pivotal and decisive factor in the acquisition of some of the new projects.

The new covered graving drydock in progress – ready in 2014 – is the last of a series of infrastructural and productive investments started back in 1991. It represents the evolution and continuum of the retractable cover placed in 1997 in one of the docks (number 2) managed by Ente Bacini, which already enables to accommodate indoor refit for yachts up to 70 meters.

The project will be developed within the shipyard facilities and represents an important strategic improvement in the development of the Company’s activities, enabling to operate even more efficiently on yachts up to 102 meters.

After a year of executive planning, the new dry dock has been launched and will be equipped with a retractable cover and a dedicated facility system, allowing temperature and humidity control, and complying with the environmental certification ISO 14001.

The works started last June and will be completed within October 2014. The investment is worth 5.6 Mio Euros and is going to be supported through a financial plan funded by private resources as well as medium term credit instruments.

www.amicoshipyard.com