The Aqualung Group announced this week it would start a “progressive shutdown” of its manufacturing activities at the company’s Technisub facility in Genoa, Italy.
Production will be transferred to Aqualung Group’s site in Blackburn, England by the end of the year, the company said.
In a press release posted to its LinkedIn page, Aqualung Group said:
“The Group has faced important challenges over the last years weighing heavily on its cash flow. As part of its transformation, the Group has taken actions to reduce its fixed costs and restore its long-term sustainable growth through a more agile and efficient organization.”
The transfer will enable Aqualung Group to centralize high-value production, particularly around plastic and silicone injections, creating a “suprastructure” that will streamline production and optimize resources, according to the statement, which adds:
“The Genoa site which mainly produces masks, fins and snorkels has been working for several years at a very low level of activity compared to its optimum capacity. This low level of activity is the result of fierce competition from Asian manufacturers and the Group’s strategy refocusing mainly on Dive and Military products. Mitigating measures implemented such as partial unemployment and insourcing production from suppliers were not enough to restore the profitability.”
Aqualung said it “will provide support to employees in terms of transition and assistance.”
Last December, Aqualung Group announced it was reorganizing its North American operations with the laying off of 60 US-based employees, closing its facilities in California and Hawaii and transferring its US distribution office to the East Coast.
