The shipyard where Mondomarine was headquarter is owned by the city of Savona, Italy. According to La Stampa newspaper, Palumbo Group has informed union representatives that it wants to absorb an additional 45 Mondomarine employees into its operation, but has held off on that move to see whether the workload at the shipyard will necessitate it.
Mondomarine is currently in bankruptcy liquidation. Last March, it laid of 7 employees in Savona and another 30 at its Cantieri di Pisa operation. An agreement with a Chinese company to buy the shipyard fell through. In addition, Italian fiscal police searched and seized documents from Mondomarine offices in mid-December for an investigation on possible fraud, false accounting and abuse of credit stemming from invoicing for non-existent transactions. Just prior to those searches, Palumbo Group submitted a binding agreement to the bankruptcy court to rent the facilities for six months.
Now that the agreement is in place, Palumbo is operating Mondomarine as Savona Superyacht and intends to pursue new construction contracts as well as refits.
Mondomarine is still in hot water as the prosecutor in charge of the fraud investigation is expected to question another company official before the end of January.
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