International Technic Marine (ITM) in Marseille, France has launched an international call for bids. The shipyard is seeking investors or buyers for the beleaguered firm.
After more than 10 years of operation in the large yacht refit market, ITM has recently crossed a period of uncertainty as it now finds itself in serious financial difficulties, which have led to a juridical review in order to avoid bankruptcy.
The shipyard is situated in the heart of the Mediterranean. ITM has the exclusive use of four large dry docks and 300m of repairing piers, via the Port of Marseille.
In addition to this, ITM has brought together a network of suppliers and subcontractors, many in workshops within the shipyard.
The financial support provided by an external partner or buyer would allow the shipyard to continue to offer an excellent repair facility close to the Cote d’Azur, home to many of the world’s large yachts. But most importantly, this would preserve the network of local industries, specialists in yachting.
Bid application packs are available to all interested parties by contacting ITM’s administrative receiver, SCP BOUET GILLIBERT. Applications will be received until 20th December 2013.