IN MEMORY OF GIUSEPPE BALDUCCI

Overmarine Group announces the passing today of its founder and President Giuseppe Balducci.

Born in Limite sull'Arno in 1937, Giuseppe took his first steps in the yachting industry as a very young man. After moving to Viareggio early in his childhood, in 1953 - aged only 16 - he began his adventure as an electrician at the historic Picchiotti shipyard, where he worked for many years, until 1971, when the Viareggio-based boat builder declared bankruptcy.

In the same year, Giuseppe decided to set up his own business, Elettromare, which manufactures marine electrical systems to this day. Even at that time, Elettromare was already a pioneering company that made electrical panels and systems for boats using cutting-edge equipment.

As part of his business activity, Giuseppe Balducci travelled extensively around Italy and the United States, and it was just during those trips that he realised how boat building was evolving, moving from the use of wood to that of fibreglass. This inspired him to open a factory in Massarosa (Lucca) for the construction of fibreglass yachts. It was the 1980s, and Balducci's vision proved to be farsighted: soon, many boat builders started entrusting him with the construction of their hulls.

Shortly afterwards, Overmarine was established, specialising in the construction of fast maxi-open yachts with an unmistakable, timeless style, and the Company rapidly became a world leader in the construction of vessels in this segment. As many as 85 units of the first maxi-open model, the Mangusta 80, were sold in the following years.

Today's Overmarine Group is the result of the unfaltering enthusiasm of a man who believed in a great dream.

Giuseppe Balducci was convinced of Viareggio's potential and was one of the founding partners of two companies actively operating in the port of Viareggio, Udina and ArPeCa.

Active until the end, Giuseppe personally oversaw the construction of a new manufacturing plant in Pisa, which will be officially opened over the next few days.

Giuseppe will always be remembered as a reserved man, with a subtle sense of humour and a great love for his wife Bruna, his children Maurizio and Katia, his beloved granddaughters, and all his employees, who, together with him, have built vessels that have become icons in the marine industry.

This is the way the entire Overmarine team want to remember him, as they express their profound gratitude to him and extend their thoughts and condolences to the Balducci family at this difficult time.

The funerals will take place tomorrow, Tuesday 11th June, at 11.00am at the Church of Don Bosco in Viareggio.