MILAN, March 20 (Class Editori) – Yachts of Ferretti could enter into stock Exchange. According to MF-Milano Finanza, the Chinese giant Weichai, which in 2012 successfully completed the acquisition of the Italian nautical group with a total investment of 400 million euros, would now mean to list the company, which returned to profit in 2016 and with growing revenues also in the last year after closing 2017 exceeding 600 million.
Actually, this project is not new. Already in the past the Chinese group leadership had hinted at that hypothesis, since the acquisition. If the market conditions will allow it, the IPO project could come to a conclusion by the end of this year. The Stock Exchange where to realise the IPO is also uncertain, but Milan could as well be the first choice to underline the Italian character of the brand.
Again according to MF-Milano Finanza, we do not even exclude new acquisitions in Italy by the Weichai group, which since 2009 has started a global expansion strategy that together with Ferretti (a company that in addition to the brand of the same name has a brand portfolio as Riva and Pershing) saw the acquisitions of Baudouin in France, of Kion and Linde Hydraulics in Germany, of Dematic and Psi in the United States, of Ceres in England and Ballard in Canada, reaching a global turnover of 31 billion euros.
Meanwhile, yesterday the president of the Weichai group and Ferretti, Tan Xuguang, was awarded the Leonardo International prize. The award ceremony for the Made in Italy excellence took place in the presence of the Head of State Sergio Mattarella, the Council president, Giuseppe Conte and the Minister of Economic Development Luigi Di Maio. Not only Tan was awarded, but also: Elena Zambon, from the multinational pharmaceutical company of the same name that received the 2018 Leonardo Prize; La Molisana, Tecnica Group and Venchi for Italy Quality; Omnidermal Biomedics for startups.
The winners of the prize, stressed the president of the Committee Leonardo Luisa Todini together with the chairmans of ICE Carlo Ferro and of Confindustria Vincenzo Boccia, "represent the Made in Italy leading sectors. Initiatives like the recently presented National Innovation Fund are welcomed. It is also important to facilitate foreign investments: the case of the Chinese entrepreneur who has invested in a company in the nautical sector bringing it back to profit is an example of how foreign capital can accelerate the growth and innovation process benefiting the supply chain" .
(Source:Class Editori)
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