Sunseeker receives £38m investment in working capital
The British superyacht manufacturer is due to launch five new models before the close of 2020…
Sunseeker International, together with backing from its majority shareholder Dalian Wanda, is investing additional working capital with immediate effect in order to accelerate its plans. The brand is investing over £38 million in new product development between 2020-2023 which will result in its range doubling to 22 models, quicker than originally planned. By the end of 2020, Sunseerker will have launched five new models, the 90 Ocean, 88 Yacht, 65 Sport Yacht, Manhattan 55 and Predator 55. While these new models are not strictly within the superyacht range, it is nonetheless promising to see a stalwart of the superyacht industry continuing to invest even throughout the problematic global environment.
"This significant support reflects our shareholder's belief in the entire Sunseeker team and its commitment to our business, brand and manufacturing in Dorset," comments Andrea Frabetti, CEO of Sunseeker International.
Sunseeker further explains that it has been back to full production capacity since June as it continues to design, manufacture and deliver yacht projects across its full portfolio.
“I’d like to personally thank our clients, suppliers and employees for supporting us during what has been one of the most challenging periods the global leisure marine industry has ever faced," continues Frabetti. "During the crisis, we have remained fully focused on our strategic plan to not only retain our market-leading position but to gain market share by remaining resolutely focused on innovation across multiple new and exciting niche models. We have seen strong market confidence throughout this period and are very much primed for future growth and success.”
According to The Superyacht Agency, Sunseeker has delivered an average of 9.3 superyacht projects annually since 2010.
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