Leonardo Award to Tan Xuguang, President of Ferretti

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Ferretti motor boats

The Ferretti Group, a giant in the boating industry, is one of Italy’s leading companies at the Leonardo Awards. Tan Xuguang, president of the group that brings together brands such as Riva Yachts and Custom Line, has received the award in the International category at the Leonardo Awards. This award is given to a personality who has particularly contributed to developing and improving cultural and economic ties with Italy. The Leonardo prizes are awarded every year to the Italian companies that best represent the “made in Italy” in the world. The Leonardo Committee awarded the prize to Tan Xuguang, Chairman of Weichai Group and Ferretti Group.

What is the Leonardo Committee?

The Leonardo Committee was born in 1993 from the common idea of Senator Sergio Pininfarina and Senator Gianni Agnelli, the ICE Agency, Confindustria and a group of entrepreneurs, with the aim of spreading and strengthening the image of excellence of Italy in the world. In 2018, the companies of the Leonardo Committee alone achieved a total turnover of almost 360 billion euro, about 20.4% of Italian GDP, with a average export quota equal to 55%.

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Tan Xuguang, President of Weichai Group and Ferretti Group (Leonardo International Award)

Tan Xuguang in the middle with the Leonardo Award in hand

How much money is Ferretti worth? 650 million euros in 2018

The Ferretti Group closed 2018 with a value of production that exceeded 650 million euros. The data were released by the group itself, which was also placed for the past year in 2nd place in the world ranking of boat manufacturers above 24 meters from the Global Order Book 2019. In 2018, 91 projects were completed (+4.6% compared to the previous year) and about 2,952 meters of boats over 24 meters under construction are under construction (+6.9% compared to 2017).

Tan Xuguang

Tan Xuguang

What group is Ferretti?

The Italian giant, one of the world leaders in luxury yachts since 2012, is in the hands of Tan Xuguang. Class 1961, Tan Xuguang in the Chinese industrial environment is nicknamed “Da Dan”, a way of saying in Mandarin for those with a lot of liver. Xuguang is the head of the Shandong Heavy Industry Group (Shig)-Weichai, one of the largest Chinese companies operating in the production of diesel engines and heavy-duty vehicles. In 2012, Shig-Weichai purchased 86.8% of Ferretti for 374 million euros (of which 178 million in capital investment and 196 million as new credit lines). The Italian group has maintained an Italian CEO, Alberto Galassi, but has changed the entire management and is back on track: Ferretti Group closed 2017 with 16.5 million profits in 2017 and has 1,500 employees.

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