Italian Scafi invests in Vernicos Tugs of Greece

May 18, 2019 - One of the major tugboat companies operating in Greece is coming up from the partnership of two historic European companies, the Greek company Vernicos Tugs & Salvage and the Italian company Scafi Società di Navigazione S.p.A (Scafi). This joint venture came after the decision of the Italian Group to invest in the Greek company through the acquisition of 50% shares of Vernicos Tugs & Salvage.

This resulted in a new company renamed Vernicos Scafi, operating mainly in Piraeus area, but also active in Salonica, as well as in other Greek ports (Patras, Lavrion, Mykonos). Vernicos Scafi is part of MedTugs, the largest Greek consortium of towage and salvage with a fleet of 40 vessels. Both Vernicos and Scafi groups have a long family heritage in the towage business, and this joint venture also coincides with a handover between generations.

The leadership of the company is now in the hands of Mr. Dimitris Vernicos and Mr. Paolo Visco, respectively President and Vice-President of Vernicos Scafi. The decision of Scafi, among the Italian leaders in harbor towage, to invest in an equally large Greek company, is a vote of confidence in Greece at a time when the country needs real investment.

This move shows that Greek shipping remains a powerful piece of the country's national economy capable of attracting significant foreign investment. The decisive role in achieving this agreement has been a common ground of shared values, passion, and competence in towage. The company will continue keeping a family business approach, seeking to enhance the quality of its services sharing know how and best practices.