History
The company was established in Barcelona, Spain on 1963 by Jose Paulo Madrigal, a Spanish merchant. Prior to the company's founding, he married Filomena Anastacio, a Filipino doctor based in Madrid on 17 January 1959. They later moved to the Philippines from 1977 to 1980. Due to lack of proper management, the company filed bankruptcy on 4 August 1978.
The family migrated to Australia by the end of the decade and with the help of the Australian Government, the company was rebuilt. It borrowed loans from the government and established a Pacific charter and pacts with other Pacific liners.
In 1995 and 1997, the company built the Sun Princess and the Dawn Princess for the Princess Cruises respectively. This marked their global importance as a Luxury Liner maker.
On 29 March 2008, an unexpected announcement was made by the company executives to sell 76% of the stakes to a non-shipping firm, BlueFreeway. Rumors spread that the actions were due to financial mal-handling. The company spokesperson, George Whitney, however denied the speculations and said it was part of their global commitment to enhance and spread their service. The deal officially ended on 4 April 2008.
Read more about this topic: Madrigal Shipping Lines
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