Van Der Velden Marine Systems clarifies situation

Van Der Velden Marine Systems has contacted SuperyachtNews.com to clarify the current status of its operations, confirming that its yachting division, Van Der Velden Systeemtechniek B.V. has filed for bankruptcy. The rest of its divisions however, will continue to operate as normal.

Edwin Van Buren, Corporate Technology Officer for the Van Der Velden Marine Systems Group issued the following statement:

"As you may have already heard, the Board of Van der Velden Marine Systems has filed a petition for bankruptcy on behalf of Van der Velden Systeemtechniek B.V. This company supplied marine manoeuvring systems and special electric bow thrusters to the yachtbuilding industry. We would like to underline that the petition only applies to this yachting division of the Van der Velden group and not one of the other Van der Velden Marine Systems Group companies.  These divisions are financially sound and successful, and remain at your service as usual.

Van Buren also clarified the series of events that had led up to the current situation:

"We believe it is important to provide you with some background information on how the petition for bankruptcy arose. Most of the production of bow thruster systems
for Van der Velden Systeemtechniek B.V. was outsourced. As a result of production problems, the qualitative standard applied by Van der Velden and its clients could not
be met.  Although Van der Velden Systeemtechniek B.V. did everything possible to solve these production issues, the delay in delivery dates led to one of the largest clients
pulling out. As a result it became impossible to recover the company’s financial position.
The design and production of rudders and steering equipment for this industry will be provided within the Van der Velden Marine Systems Group, which is also focused on
the design, production and delivery of steering systems for all maritime sectors."

Related Links

Van Der Velden Marine Systems Profile | Van Der Velden Marine Systems Website

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