The Traderszone Network

Published in TZ Latest News 28 June, 2015 by The TZ Newswire Staff

Slowboat to China: No quick fix for luxury yacht firm Ferretti

SARNICO, Italy/SINGAPORE (Reuters) – When Chinese industrial conglomerate Weichai Group snapped up cash-strapped Italian luxury yacht builder Ferretti in 2012, the deal looked like a match made in heaven. Debt-laden Ferretti, known for the elegant Riva speedboats favored by film star Sophia Loren, was the world’s top maker of large motor yachts and cash-rich Weichai saw an opportunity to offer luxury leisure to the growing ranks of Chinese billionaires.

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