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26 May 2004 RODRIQUEZ CANTIERI
NAVALI HAS A NEW MAJOR SHAREHOLDER The acquisition was made through a new company, RCN Finanziaria, led by IMMSI with their partners Banca Intesa (Private Equity) and General Electric. RCN Finanziaria's investment makes them the majority shareholder of Rodriquez Cantieri Navali, who in turn is the parent company of four shipbuilding facilities yards in Italy and one in Brasil as well as other specialized companies. The new shareholding of Rodriquez Cantieri Navali is now 78,2% RCN Finanziaria, 10,9% MRS Sviluppo (the management of RCN) and 10,9% Ustica Lines (a Sicilian shipping company). Luciano La Noce is now the new President and Giovanni Morace will continue in his role as the Managing Director. IMMSI's investment will further strengthen the position of the yard as well as provide for the development of Rodriquez, allowing them to leverage their strengths as an engineering driven and innovative company active in the international shipbuilding market of high speed ships, fast Ro-Pax's, luxury yachts and military craft. Commenting on the agreement, Roberto Colaninno, President of IMMSI, states that "the Rodriquez operation is coherent with the industrial investment strategy of IMMSI to develop a leading Italian group in the fields of transport and mobility who can develop innovative new products suitable for the new needs of the market". IMMSI and Mr. Colaninno bring to Rodriquez the firm financial backing of a leading industrial group to allow them to focus on their yacht, commercial ferry, and military sectors.
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