The Italian Sea Group (TISG), is increasing operational activities across its shipyards, with the aim to reach full operations early in June 2026.
In a statement providing an operational update, TISG says the strengthening of all production activities represents a concrete signal of industrial continuity and operational stability, both for the company but also for its supply chain.
The Group is currently restructuring under court protection and a forensic investigation is currently underway by advisory firm KPMG and legal action is being taken against former senior executives who are alleged to have concealed the actual management of orders.
TISG has also received a €25 million cash injection to offset budget overruns.
Scheduled programmes
In the statement, TISG points out that the activities of the refit division have not been interrupted and work has continued.
In addition, CELI 1920’s activities are proceeding in line with scheduled programmes.
TISG has also confirmed it will be taking part in the Monaco Yacht Show in September.
The company says its financial position will be subject to a rebalancing process, with cash management and operational financial dynamics monitored as part of the activities aimed at ensuring business continuity.
TISG emphasises that the controlling shareholder intends to continue its activities with the objective of rebalancing the company’s financial position while, at the same time, pursuing the strategy of innovation, production excellence and quality standards.
TISG consists of the Admiral, Tecnomar, Perini Navi, Picchiotti, NCA Refit and Celi 1920 brands.
