Bradford and Larry Smith Electronics Form a Joint Venture

Monday, August 18, 2003
Bradford Grand Bahama, Ltd. (Bradford) and Larry Smith Electronics (Larry Smith) announce that they have signed a Memorandum of Agreement to form a new Joint Service Venture in the Bahamas. This venture will significantly add to Bradford’s capability to provide a complete world-class, one-stop quality services at its shipyard in Freeport, Grand Bahama and will facilitate Larry Smith in bringing their superior marine electronics sales and repair services to the Bahamas. Bradford will now be able to offer a full line of marine electronics sales and services to the entire yachting industry from its Freeport location. Larry Smith is recognized internationally as a leading dealer, providing marine electronics, custom installations, custom vessel monitoring systems, audio visual equipment and integration. Larry Smith has custom designed and installed electronics systems for yachts around the world and is well-known for its quality sales and repair services. This venture enables Larry Smith to work out of the largest yacht repair facility in the Freeport area. The biggest gain of all is for the boat owner. The accessibility and reputation that Bradford provides for the smallest of pleasure vehicles to the ultra mega-yachts makes this venture very noteworthy. Paul Engle, Bradford’s President, said “We are very excited about this Joint Service Venture. Bradford’s business plan includes having quality sub-contractors align with us to provide a full line of the highest-quality services to the boat owner. Our venture with Larry Smith is a great addition to our shipyard and enables Larry Smith’s technicians to work along side the 90 tradesmen already employed by Bradford in Freeport. Bradford’s ability to offer all services in-house ensures quality, while keeping budget and completion time considerations in the forefront.”

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