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05 March 2010 - Ferretti Group stick to business plan
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By Adam Turner
 The Pershing 108
With rumours abounding a few days ago of the immediate sale of the Pershing brand by the Ferretti Group, it appeared that 2010 was going to be as tumultuous as last year for the Group. However, Synfo.com understands that even with an offer of some 100 million Euros on the table, the Group decided to stand firm and place its confidence in the business plan created last year. A source at the Group said “This industrial plan absolutely does not include the sale of Pershing”.
At the start of the week the news also broke that the Group had agreed to sell 100% of the Apreamare brand to the Aprea and Pollio families. At the time of that deal, Ferretti Group announced that it had made the decision as it wished to focus on its core target business of the large luxury market. The refusal to sell the Pershing is said to be a continuation of that overall plan.
Unfortunately, one of the by-products of the stance taken by Ferretti Group has been the resignation of Pershing’s founder and Chairman Tilli Antonelli, who apparently did not agree with the decision not to sell. Ferretti told Synfo.com that they regretfully accepted Antonelli’s choice, saying they thank him for his work and wish him the best for the future.
After successfully renegotiating their debt balance last year, as well as several high level staff changes, it must be hoped that the Group can push on from this into a successful and profitable 2010. With the Pershing 108 currently under construction due to be presented this Autumn, as well as another large superyacht project that cannot be officially revealed as yet, the coming year seems set to be an interesting year for the brand itself.
Related Links
Ferretti Group - company website
Pershing SpA - company profile | company website
Apreamare SpA - company website
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