By Fulvia Venturi

Italy’s Ferretti Group has announced a capital increase of €80m to support the group’s new industrial plan. The increase was approved by Ferretti International Holding Spa, which includes majority shareholder Weichai Group Holding Hong Kong Investment Co Ltd together with the Royal Bank of Scotland Plc, SVP Special Situations LLC and other minority shareholders.

The capital increase further strengthens the investment in Ferretti by its shareholders, in particular that of Weichai Group Holding Hong Kong Investment Co Ltd, with a substantial capital strengthening aimed at implementing the new industrial plan for the group’s relaunch and growth.

“The capital increase of Ferretti International Holding is a fundamental step in reaching the objectives of the new industrial plan and is a further demonstration of the group’s capacity to attract capital in Italy from global investors such as Weichai Group Holding Hong Kong Investment Co Ltd,” says Alberto Galassi, Ferretti’s CEO.

“I would like to thank Weichai and all the shareholders for their trust and will support the group by providing the financial means which will allow us to consolidate the company’s leadership in the world’s nautical market.”

Ferretti’s product portfolio includes the Ferretti, Pershing, Itama, Bertram, Riva, Mochi Craft and CRN brands. The company was acquired by China’s Weichai Group in 2012.