Pinmar: Redefining the standard
Following a period of change in the Company, and ahead of The Superyacht Forum in November, Remy Millott of GYG speaks to SuperyachtNews.com…
The industry’s market leading group for superyacht painting services, the Global Yachting Group (GYG), which includes the Pinmar, Rolling Stock, Techno Craft and Pinmar Supply brands, is the only superyacht painting, supply and maintenance business to be listed on the AIM segment of the London Stock Exchange, a major milestone for the company in 2017. In addition to this, GYG has completed an acquisition of ACA Marine alongside hosting the biggest charity golf tournament and renowned social event of the yachting calendar, The Pinmar Golf, to be held at the end of October.
Now in the run up to The Superyacht Forum (TSF), taking place during 13 - 16 November, Remy Millott, CEO of GYG plc and Stephen Murphy, the Non-Executive Chairman, will take to the stage with fellow leading figures in the industry as part of a session in the Investor’s Summit, to discuss the Initial Public Offering (IPO). Pinmar will also introduce its new 2.0 Paint Standard and lead a workshop on electrostatic paint spraying.
“We have made a lot of progress and development in the last couple of years and our recent IPO provides a clear picture of our strategy, enhancing our credibility and profile which boosts the Company’s ability to secure larger new orders.” explains Remy Millott in a recent interview with SuperyachtNews.com.
“Historically it has been a challenge to get external investment in to the industry due to the uncertainty in the marine market and an inherent lack of understanding of the superyacht sector. As such, I think that our IPO is important for our industry, as it will encourage and present the market to new investors, thus providing an opportunity for other players. Since listing at the beginning of July, our share price has performed very well. Such confidence could bring new money into our industry to grow, provide and improve and I think that is the good thing.”
Pinmar, through the introduction of the Pinmar Paint Standard six years ago, was the first to create a comprehensive definition of finish quality in the paint sector of our industry. Since its launch in 2011 the Pinmar Standard has been used in many of the new build and refit contracts and has led to the adoption of an empirical approach to assessing paint quality rather than relying purely on aesthetic opinion. “Now we are looking to update and re-launch the Pinmar Standard 2.0 recognising that the nautical paint market has expanded and developed significantly since the launch of the original standard. The new Pinmar Standard 2.0 will incorporate such changes and offer a new quality benchmark that is applicable across all the leading paint manufacturers and their product portfolios. Our aim is to provide renewed clarity across the industry and in doing so clearly demonstrate the premium quality finish upon which Pinmar has built its market leading reputation”.
Pinmar will also be hosting an electrostatic paint spraying workshop at TSF in conjunction with AWLGRIP. The objective is to present the case for the industry’s adoption of electrostatic paint application and to discuss the latest developments in superyacht painting. “Electrostatic painting was developed in the automotive sector and we have seen the advantages it offers for painting large yachts”, says Millott. “It’s much more efficient in terms of paint transfer, has considerably less environmental impact and most importantly, it enables us to reduce the timeframe for top-coating on the very large superyachts. This is particularly important as yacht schedules get squeezed.”
Commenting on Pinmar’s participation in The Superyacht Forum; Remy Millott said, “It’s the leading event of its type for the industry. [TSF] offers a platform for the whole market to come together, educate and learn about the latest innovations applicable to large vessels. This is a core reason for Pinmar’s support of the event this year.”
The Superyacht Forum is delighted to have Pinmar as a partner at this year’s event. As we focus on the next 10 years for the industry, one of the featured questions is: How are we future-proofing projects and product development?
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