RDIF and Ferretti agree on joint investment in civil marine production technology in Russia
Press release, 24.10.2018
Moscow, October 24, 2018 - The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia, and Italian company Ferretti, the world leader in the design, construction and sale of sea vessels, have agreed to jointly implement investment projects in Russia. They will put considerable emphasis on research and development work with carbon fiber and advanced composite materials. The agreement was signed today in the presence of Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte.
RDIF and Ferretti intend to set up a joint venture to localize the production of specialized vessels with hulls made from composite materials, steel or aluminum in Russia. These vessels are used for search and rescue operations, patrolling, sanitary-epidemiological inspections, combating crime and combating terrorism.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“We are happy to partner with world-leading shipbuilder Ferretti, our joint efforts will contribute to the localization, in Russia, of not only advanced production technologies, but also high-quality research expertise. Using the expertise of Russia’s scientific and engineering institutions, we see an opportunity to create a world-class project in the country, which can be integrated into the global market. The renewal of the fleet of specialized and recreational vessels in Russia will also significantly improve the security situation on the water and in coastal areas.”
Alberto Galassi, CEO of Ferretti Group, commented:
“This agreement represents a major milestone for Ferretti Group. The cooperation with the Russian Direct Investment Fund will create a powerful synergy between the Russian technical andengineering expertise and Ferretti Group long-time experience in the nautical sector with more than 10,000 crafts built in over 175 years of activity. We trust that this financially sound and operationally efficient joint organization will enable us to compete successfully both in highly selective markets as in the recreational yachting and even more in the security vessels sector. This joint venture will give us the strength to further implement our cutting edge technology on materials and nautical innovations. We are proud of the confidence RDIF put in Ferretti Group and the attention that both the Russian and Italian Governments dedicated to this world class cooperation.”
Russian Direct Investment Fund (RDIF)is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
Ferretti Groupis a world leader in the design, construction and sale of motor yachts and pleasure vessels, with a unique portfolio of prestigious and exclusive brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN and Custom Line.
Established in 1968, the Group is also present in the USA - via its subsidiary Ferretti Group of America, and in Asia, through its subsidiary Ferretti Group Asia Pacific Ltd., based in Hong Kong. The Ferretti Group has always been a leader in the boating industry, thanks to steady product and process innovation and the constant search for cutting-edge technological solutions.Ferretti Security and Defence, or FSD for short, is a new business division marking Ferretti Group’s latest venture into the design, production, sale and servicing of naval platforms built specifically for Security and Defence purposes. Ferretti Group’s superior engineering know-how places FSD in an ideal position to offer a wide range of professional vessels, with planing or displacement hulls in composite materials, steel or aluminum, thus placing its unsurpassed knowledge in technology and quality at the service of institutional clients involved in Search & Rescue missions or Patrol, Surveillance, Anti-crime and Anti-terrorism operations. Further information can be found at www.ferrettigroup.com
For additional information contact:
Arseniy Palagin Andrew Leach / Maria Shiryaevskaya
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41