Russians to Acquire Fairline Boats

By Aiswarya Lakshmi
Tuesday, January 26, 2016
Photo: Fairline Boats Limited

 Crisis-hit yacht manufacturer Fairline Boats has been saved after the firm was bought by two Russian investors. 

 
A new company, Fairline Acquisitions, funded by two UK-based Russian investors with a background in the marine sector, is to take on the failed company’s order book and initially plans to recruit around 100 of the 380 staff who were made redundant before Christmas.
 
It will be run by Russell Currie, who has been a Fairline dealer for 18 years where he has made sales of more than £90 million.
 
Currie said: “I am delighted to have been appointed managing director for Fairline Yachts. With the resources of the investors, coupled with the expert knowledge of the management team and our energy and passion for the brand, the structure is in place for a great future for Fairline Yachts.
 
“We will focus on creating high quality luxury motor yachts that boaters will want to own and dealers will want to sell," he added. 
 
Fairline Acquisitions will take responsibility for finishing and completing any outstanding boats orders and expects to resume production after completing an assessment of the range of boat models.
 
Little is known about the Russian buyers, though they are thought to be Alexander Volov and Igor Glyanenko, who are both listed as shareholders in Fairline Acquisitions, which was registered with Companies House on January 6. Also listed as a director of the new company is Karl Gilding, a former Fairline boss left to work for rival Sunseeker two years ago.
 
The Russian pair are said to be UK-based and long-term investors with experience in marine business. They are thought to have previously held the sales rights for a rival motoryacht company in their home nation.
 
Failine Yachts will keep its base in Oundle, Northamptonshire, where its manufacturing facilities are located.  
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Live Fish Carrier Launched at Gondan

At high tide, the vessel “MARTIN SÆLE”, the first Live Fish Carrier built by Gondan Shipyard in Figueras, was successfully launched today. Representatives of the owner of the vessel,

Wärtsilä Environmental Efficiency for Hybrid UK Ferry

A new ferry being built at the Cemre shipyard in Turkey for UK operator Wightlink will feature a comprehensive range of modern Wärtsilä equipment and systems to

Ship Sales

South Korean Yards Face Shrinking Orderbook

The global orderbook has continued to decline in the year to date, indicating that there are diminishing levels of activity at many of the world’s shipyards, says Clarksons Research.

Slippery Orders in Ship Building

The situation of the shipyards in the world and in particular the struggles of the Korean shipbuilding industry has received a fair amount of attention in the shipping press,

Shipbuilding’s ‘Fatal Attraction’ – A Dramatic Affair?

Down the years, shipbuilders have always entered and exited the business as cycles have progressed, but over the past decade developments have been dramatic, says Clarksons Research.

Passenger Vessels

Wärtsilä Environmental Efficiency for Hybrid UK Ferry

A new ferry being built at the Cemre shipyard in Turkey for UK operator Wightlink will feature a comprehensive range of modern Wärtsilä equipment and systems to

China to Add 8 Cruises to Push Tourism in South China Sea

Three State-owned enterprises from the shipping, tourism and construction sectors will cooperate to equip up to eight cruise liners and offer diversified sightseeing

Harbor Breeze Cruises Expands Fleet with AAM Built Catamaran

All American Marine, Inc. (AAM), together with Harbor Breeze Cruises, has announced the completion and delivery of an aluminum catamaran passenger vessel to operate

Yachts

Team Britannia, GAC Inks Partnership Deal

As Team Britannia prepares for its bid to break the round-the-world powerboat record later this year, GAC has been named their official shipping and logistics partner.

Blohm+Voss Strengthens Team

Blohm+Voss has appointed Jean-Gabriel Tridon as General Manager and Dieter Pladeck as Finance Director for its new maintenance and refit facility in La Ciotat in the south of France.

Mergers & Acquisitions

G6 Updates Asia-North America West Coast Service

Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance

RINA Closes Edif Group Acquisition

RINA S.p.A, the holding company of the multinational testing, inspection, certification and consulting engineering group based in Genoa, Italy, has announced that

Royal IHC, NETICS Join Forces

Royal IHC has entered into a partnership with NETICS, a civil engineering and consultancy agency. A leading global player in engineering with dredged sediments,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0671 sec (15 req/sec)