VIAREGGIO, Italy – Three years after acquiring Telemar Yachting SRL as a wholly owned subsidiary, CG Telemar SpA has now integrated the Viareggio superyacht electronics subsidiary into the CG Telemar Group as a full operating division under which all of the group's yachting activities will be consolidated. The new division will retain the "Telemar Yachting" name.
"Since acquiring Telemar Yachting, we have been pleased with their consistent success in difficult global trading conditions," Bruno Musella, CG Telemar's Managing Director, said in a release announcing the change. "This move brings even greater synergies and opportunities for the Telemar group's success in the superyacht industry."
The CG Telemar group is a publically traded international company offering maritime electronics, satellite and communications solutions.
"We see this as the confidence CG Telemar has in us as a team," Andy Gifford, Telemar Yachting's general manager, said in the release. "But we also believe this confirms CG Telemar's commitment to the superyacht industry."
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