Monthly News - October 2009

-pic of the month- Tiara Super Grouper

Azimut-Benetti Group Sign with Yacht Brasil

YachtBrasil, a Brazilian company specializing in yacht sales and distribution, has confirmed a partnership with Italian boatbuilding group Azimut-Benetti, which includes the Atlantis brand. YachtBrasil signed the agreement during the recent São Paulo Boat Show, allowing the company exclusive sales and after sales rights for the Italian boat brands throughout the country. Daniele Mitton, Azimut's general manager for the Americas, was impressed by the level of sales at the 2009 São Paulo Boat Show.YachtBrasil maintains that the new partnership with the Azimut-Benetti Group is a significant achievement. The agreement coincides with the ending, by mutual consent, of YachtBrasil's successful 14 year relationship with Intermarine. It operates 12 sales and service bases in Brazil and has also recently become Sea Ray's exclusive importer. Foreign boatbuilders are now retuning to the market despite import tariffs of up to 100 per cent on leisure boats. The rapid rise of the Real which has seen a 36 per cent appreciation against the US dollar since the start of the year combined with a stock market now higher than before the Lehman Brothers collapse are among several positive factors affecting the market. Intermarine, Brazil's leading yacht builder, will continue its partnership with Azimut Yachts, building boats specifically tailored for the Brazilian market.


Baia Makes the Switch to SP Epoxy

As an internationally renowned supplier of composite materials for leading boat builders the world over, SP, the marine business of Gurit, was an obvious choice for Italian boat builder Cantieri di Baia. A selection of SP materials, supplied by SP's Italian distributor Resintex Technology, was used on the new Baia 50 including the leading structural foam core Corecell, and SP's adhesive, laminating and epoxy systems. Cantieri di Baia chose to make the switch from polyester and vinylester to SP's epoxy for the build of the Baia 50 because epoxy resin systems are now being consistently adopted for high-performance structures requiring ultimate weight efficiency and durability. PRIME™ 20LV, SP's epoxy system designed for infusion technology, was used because of its very low viscosity which contributes to short infusion times and optimum fiber impregnation as well as providing very good stiffness properties and an excellent laminate quality. The switch was an effective solution for the new Baia 50, with Cantieri di Baia estimating a resulting weight reduction in the order of 25% out of 4.2 tones of structural weight for the hull.


Brunswick Names President Boat Group

Brunswick Corporation has announced that it has named Andrew E. Graves, 50, president to its Brunswick Boat Group. Graves most recently served as president to US Marine and Outboard Boats for Brunswick. Graves now will also have responsibility for the operations of Sea Ray and Meridian. He will continue to report to Dustan E. McCoy, chairman and chief executive officer of Brunswick Corporation. Most recently, Graves was president for US Marine and Outboard Boats, a position he assumed in 2008. Mr. Graves joined Brunswick in 2005, originally as President Freshwater Group. Before coming to Brunswick, Graves was President of the Dresser Flow Solutions business of Dresser, Inc., a leading maker of valves and control solutions for the oil and gas industry. From 2001 to 2003, he was president and chief operating officer for Federal Signal Corporation. Prior to 2001, Graves held positions of increasing responsibility with CNH Global, N.V., and FMC Corporation.


Cigarette Celebrates 40 Years at Fort Lauderdale Boat Show

Diversity is one of Cigarette Racing Team's strong suits--as well as its long-time reputation for building the most recognized, top-quality performance boats in the industry. Celebrating 40 years of its star-studded history, Cigarette comes to the Ft. Lauderdale International Boat Show, displaying nearly every boat in its model line, which has grown significantly over the years. From the iconic 38 Top Gun to the 50' Marauder, Cigarette demonstrates responsiveness to its customers' desires and lifestyles-whether it is an entry-level top-notch powerboat or the biggest Cigarette in the marina. Each Cigarette shows the same commitment to quality construction, reliable operation and service--all with a painstaking eye for detail, from the inside to the outside, from rigging and instrumentation, to upholstery and paint.


CRN with the Luxury Network

The Luxury Network, the next generation of marketing for luxury brands, is launching into the Italian market. CRN Spa, the premium brand in the Ferretti Group portfolio, is the Main Partner while Condé Nast, prestigious editor of magazines and web sites, joined as the Media Partner. The three companies are already collaborating together to introduce the network within the luxury business community in Italy. The Luxury Network is today the most exclusive and proactive private marketing club for luxury brands and high end service providers. All members work together, at senior director decision making level and in a non competitive environment, for mutual business and client development through a joint prequalified high net worth target audience. The Luxury Network’s objective is simple: to create unique partnerships by facilitating co-operation and new business development activities between high end companies via affinity marketing, co branding, sponsorships, product placement, joint collaborations, lifestyle projects, B2B and B2C sales and networking events.


Formula Team on the Road to Doha Qatar

Formulaboats.com teams U-5 and U-7 are traveling to the final race of the ABRA season in Doha, Qatar. The second race of its kind to take place outside the United States of America, the event takes place on November 19-21, 2009, in Doha. Three titles - the Oryx Cup UIM World Championship, the Series Champion Team and the Series Champion Driver - will be up for grabs at what promises to be a thrilling race weekend in Qatar.

Formula on Twitter and Facebook

Start following Formula on Twitter and catch up on the US builder most recent happenings. On our Twitter site, Formula updates on current sales and promotions, upcoming boat shows and more. Newest "tweets" include online magazine covers, Boating World's 240 Sun Sport performance test happening this week and the BoatTest.com 400 Super Sport test. Formula also added a Facebook fan page. Formula recently updated the fan page with more pictures and videos. The Facebook page makes it easy to start chatting with other Formula Fans on the message boards. Topics range from favorite onboard snacks to favorite places to boat to helpful cleaning tips. Be on the lookout for photo contests–winners get in the Action and on the Formula website. Get in touch and stay in touch with Formula and Formula fans on the world renowned Facebook and Twitter networks.


Fountain to Keep Assets

Fountain Powerboat Industries has been allowed to reorganize and retain its assets. A US bankruptcy judge last Friday voided the sale of the company's assets to FB Investments LLC and instead allowed Fountain to reorganize. Liberty Investments will be its major shareholder, and Reggie Fountain Jr will continue to serve as its CEO and president. Liberty, the major shareholders of the Donzi and Pro-Line brands, will help the company pay off creditors. Oxford Investment Group, which owns FB Investments, will be Fountain's major creditor. Fountain owes Oxford US$19.6m after it purchased Fountain's bank note from Regions Bank for US$6.5m. The bankruptcy court ruled that Fountain would make monthly payments of about US$29,000 to pay off the debt. Fountain said the company will start taking new boat orders, but still has challenges in the off-season. Fountain told the court during testimony that the company has made about US$991m in sales since it started over 30 years ago, and has paid US$247m in salaries. Fountain said he hopes that Liberty will keep his former company, which includes the Fountain and Baja brands, in its current location.


Genmar to Sell Assets

In a letter to dealers, Genmar President and CEO Roger R. Cloutier said the company has concluded that a sale of Genmar’s assets will result in the most favorable outcome for the parties affected by its bankruptcy. Cloutier said the company is taking actions, including the filing of certain bankruptcy court motions, to ensure the asset sale process is affected in a timely and efficient manner to allow Genmar and its boat businesses to move forward. The process will move quickly over the next several weeks, according to Cloutier, and more updates are forthcoming.


ISA Zero Emissions

ISA Yachts present an environment friendly motor yacht, with the innovative 390 Zero. Developed in cooperation with Siemens SPA and Mar Quip BV specialized in diesel electric and exhausts gas respectively. The main target of ISA and its partners is to reduce the environmental impact of diesel engines and improve comfort on board in all operating conditions. Catalyst on all diesel engines propelling and generator are all connected in conjunction with a particle filter, assuring a total control of gas emissions and thus reducing drastically substances which injure the environment, soot particulate as well as diesel odor. The zero emission modes is part of this system and reflects ISA reply to clients expectations in order to make environment friendly super yachts.


Maritimo Receives ISO 9001 Certification

Maritimo has been awarded ISO 9001 certification for its quality management systems. CEO Bill Barry-Cotter said the company undertook the stringent ISO process to ensure consistent high quality boats for all customers. Maritimo Warranty manager Greg Swain said the company began the ISO certification four years ago as the company began to expand. Mr Barry-Cotter said that ISO 9001 certification is becoming increasingly important in overseas markets as well in Government contracts. Maritimo must now undergo an independent audit of its management systems every six months and re-apply for certification every three years.


Menorquin Presents New Communication Theme Slow Yachting

In the midst of preparing the upcoming Barcelona Boat Show, between 7 and 15 November, the Spanish boatyard Menorquin is working very hard to coordinate the presentation of its boats as well as designing the activities agenda for the show. In this year’s edition, the boatyard will present the business plan the company will take this season, including the initiative it will put in place in order to strengthen the genuine values that identify this brand: Enjoy the sea without being rushed, savoring every moment. To define this tendency, the boatyard has chosen a new claim, Slow Yachting; this expression reveals a new philosophy for sailing and understanding recreational boats.

Menorquin Presents Open Doors to the Sea

After the Barcelona Boat Show comes to an end, those who are interested in learning more about the peculiar style of sailing in Slow Yachting on board a Menorquin Yacht can sail the model of their choice in the sea. This will occur during the Open Door to the Sea Days that Menorquin have organized at Masnou for 20, 21 and 22 November. This Menorquin open days represent a relax way to view more in detail the product and at the same time being delivered a better knowledge of the cruiser and yachts by the Spanish Island yard staff.

Menorquin on Twitter

Seeking new ways to keep in touch with its clients and friends Spanish boat and yacht builder Menorquin has added a Twitter page. This comes along the Facebook fan page which the company launched in the end of summer. Facebook and Twitter are the latest way to keep in touch with friends, and clients. By adding these Menorquin shows that it wants to keep in contact with its client and the passionate people who like there product, more as friends more then just a customer to sell a boat.


Mustang Buys Warren Moulds

Australian Mustang Marine has revealed that it has recently purchased the moulds of Warren Yachts' 77ft and 87ft models or the S77 and S87 Sport Yachts. The moulds will allow Mustang to apply the European styling found in its existing range to larger vessels. Mustang is also planning to expand its range of smaller boats, with design work underway to release an entry-level cruising range in 2010. Based on Queensland's Gold Coast, Mustang Marine has more than 35 years' experience building sports cruiser, flybridge and coupé powerboats. The range is exported throughout the world. Warren Yachts builds luxury motor and high performance yachts from 23m-37m (77ft-120ft) in length.


Princess Yachts in Sunday Times Top Track 250

Princess Yachts is one of Britain’s top performing companies, according to the Sunday Times HSBC Top Track 250 annual league table, which was released in a supplement with the Sunday Times on the 11th of October. The Company has been included for the first time with annual sales for 2008 of £206.6m, up from £195.6m on the previous year. Chris Gates, Managing Director said he is delighted that the company has been recognized nationally in The Sunday Times HSBC Top Track 250 league table.

Princess Support from Lloyds TSB

Following the news earlier this year that Princess Yachts is to begin building a new range of super tri deck yachts of over thirty metres, the UK boat builder today revealed that it is receiving "financial guidance and support" from Lloyds TSB Corporate Markets on various international trade issues. Princess is currently working on the design and manufacture of its new M Class series, the Princess 32m (105ft) and Princess 40m (130ft), at its newly acquired site at Devonport Dockyard, Plymouth. The two yachts will be Princess Yachts' first-ever, tri-deck models, and were designed to meet customer demands for increasingly larger, high-performance vessels. Lloyds TSB Corporate Markets provides financial banking and advisory services to businesses and organisations with a turnover of £15m and above.

Regal Hires New Marketing Manager

Regal Marine has hired Mark Kellum as its marketing manager, the company reported in a recent statement. Kellum’s responsibilities include assisting Regal's leadership team in developing and deploying marketing strategies and tactics, as well as providing design and development expertise for marketing collateral, ad campaigns, public relations and media relations, the company explained. Marks background includes five years as vice president of creative for Kenton Smith Advertising and Relations. He also owned and managed a boutique advertising and marketing company for over 10 years with national and international clients such as Red Lobster, Olive Garden, AAA, GE Financial Services, Harvest Insurance Companies, Harcourt Brace and many others.


Riviera Star Performers

Going the extra mile is all in a day’s work for Cassandra Meyers and Sean Drysdale who were named Riviera’s Star Performers for the third quarter. The Star Performer awards have been running for more than 10 years and recognise outstanding employee contribution. Executive assistant Cassandra Meyers put her heart and soul into organising the Sanctuary Cove and Sydney International Boat Shows, the most significant events on Riviera’s domestic calendar; that even a broken ankle couldn’t hinder her commitment to seeing the job through. Director of brand and communications Stephen Milne commended Cassandra for her dedication, support and ‘can do’ attitude. The star performer award for occupational health and safety went to Sean Drysdale, cabinet-maker and joiner. Sean was nominated by joiner shop supervisor Des Davidson who described him as a role model. Outside of work, Sean enjoys building electric guitars and has made about 12 to date. He is also an avid triathlete. Cassandra and Sean will vie for the overall Star Performer of the Year award, selected by the Riviera senior management team, which will be announced in December.


SanLorenzo Announces 2009 Financial Results

Italian yacht builder Sanlorenzo says it has bucked the trend for two-figure drops in sales, limiting the contraction to six per cent in 2009. The boat builder estimates that its sales volume for 2009 will total €170m, with an EBITDA of €18m, a drop of 25 per cent. Sanlorenzo says that the drop in profitability can be attributed to the depreciation of used boats in 2009. In 2008 Sanlorenzo generated a turnover of €180m and an EBITDA of €24m. Sanlorenzo says is has 'maintained a good margin' on its yachts, dropping from 14 per cent in 2008 to 11 per cent in 2009. The boatbuilder says that it has not adopted a policy of aggressive discounts offered by some other boat brands. Sanlorenzo forecasts an increase in turnover of 18 per cent to €200m in 2010. The company's order portfolio represents 66 per cent of this estimated budget, while its brand representatives have no stock. In 2010 an extension project will begin at Sanlorenzo's Ameglia headquarters, expanding the working area to 100,000m2. The total investment for 2010 will amount to €20m. Sanlorenzo employs 250 people directly and 900 workers indirectly. The company produces yachts at Viareggio and Ameglia in Italy.


Sea Ray Adds Dealers in Important Markets

Sea Ray Boats is driving performance and improving its position as the leader in the recreational boating market by adding a highly distinguished and award-winning group of dealers to its world-renowned sales and service network. Not long after announcing the signing of six premier dealers in August, the company is now pleased to announce the signing of eight additional dealers in important markets ranging from California to the Mid-Atlantic States to Canada.

Sea Ray Give Promotion

Brunswick has today announced that it has named Robert J. Parmentier, 48, president Sea Ray Group, and Terry D. McNew, 47, executive vice president product development and engineering, manufacturing and quality, concentrating on the Sea Ray, Bayliner, and Meridian brands. Both actions are effective immediately, and both Parmentier and McNew will report to Graves. Parmentier most recently was executive vice president - Sea Ray, overseeing a wide range of responsibilities, including that of the Meridian yacht brand, which was integrated into Sea Ray in 2008. Parmentier will retain responsibility for the Meridian brand, as well as assuming P&L responsibility for Sea Ray. Parmentier joined Sea Ray in 1982, and has held a number of positions of increasing responsibilities over the years at both the plant and headquarters levels for Sea Ray. Prior to his most recent assignment, Parmentier had served as senior vice president - operations as well as senior vice president - general manager of Sea Ray. McNew most recently was senior vice president product development and engineering (PD&E). McNew has spent most of his more than 20 years in the recreational boating industry with Sea Ray, beginning his career at Brunswick's PD&E facility in Merritt Island, Fla. He then progressed steadily through several key manufacturing roles before ultimately assuming the position of Sea Ray vice president - manufacturing in 2001. He left the company in 2004, to become president and chief executive officer of Correct Craft Boats in Orlando. McNew returned to Brunswick in 2006. Along with these developments, Brunswick noted that Richard C. Stone, president Sea Ray Group, will be leaving the company. Stone has led Sea Ray since 2006, and had held a number of positions since joining Brunswick in 1985.


Sunseeker Employees Organize 24 Hours Kayak Challenge

Forty-two people took part in a 24-hour canoe kayak challenge around Brownsea Island in Poole, Dorset recently to raise more than £6000 for the family of Sunseeker International employee Kev Baker, who announced to colleagues last month that he is battling an incurable brain tumour. The round-the-clock fundraising event was organised by Sunseeker International employees Steve Godfrey and Darrin Gale, who are great friends of Kev and who have worked with him for many years in the shipyard 3 department at the Poole-based company. It is hoped that the money raised will help towards the laser treatment that Kev has now begun in an attempt to reduce the speed of the tumour's growth. The event took place on September 25th from 6pm, and those participating either canoed or kayaked the 7.98 kilometres from the starting point of North Haven Yacht Club, based in Sandbanks and then around Brownsea, a peaceful island of woodland, in Poole Harbour. All participants completed the route at least once and many completed several laps. Scott Rowland, a good friend of Kev Baker, managed a total of seven laps, covering a total of 55.86 kilometres. One lap of the island was expected to take anything from 1 hour 30 minutes to 2 hours depending on the experience and the size of group, but the best time achieved, by 2 groups, was 1 hour 20 minutes. Additional activities during the event, held to raise further funds, included the sale of refreshments and a competition to win a family ticket to a Christmas pantomime which was kindly donated by the Sunseeker Social Club. Entrants had to estimate the total distance covered by all participants during the event, and the prize was won by Sam Piesley who correctly guessed the distance of xx kilometres. Steve and Darrin are now considering plans for another fundraising event to be held next summer.

Sunseeker Supports National Lifeboat Service

Sunseeker International has supported the Royal National Lifeboat Service (RNLI) by supplying Sunseeker merchandise, including a number of jackets, caps and ski hats, polo shirts and fleeces, as an auction prize for its recent Mudeford Lifeboat charity Ball. The Sunseeker prize contributed towards the total monies raised during the fundraising event, which exceeded £21,500.00. The RNLI Mudeford Lifeboat Station operates from a boathouse on the picturesque Mudeford Quay in Christchurch, Dorset and carries out a variety of lifesaving rescues throughout the year.


Tiara Delight in Panama Fish Tournament and Super Grouper

Tiara Yachts owner Felix Fallabella, fishing his 3900 Convertible M/Y Revulu, was the only participant out of 65 boats to bring in a Blue Marlin at the recent Panama Fishing Tournament, II Torneo Internacional de Pesca Arq. Andres Lopez Pineiro. Weighing in at over 500 pounds, the big blue took 38 minutes for Felix to boat. In addition, the Revulu catch included a Spanish mackerel, Snapper, Amberjack, Dorado and Wahoo. Congratulations to Felix and his crewmates on a very successful Tournament, and best of luck in the future (Felix tries to fish at least 4 Tournaments a year). In another tournament Tiara customer Daniel Munyan, fishing aboard the Team Galati 4200 Open, recently landed a new IGFA World Record (130 lb. line class) Black Grouper. Hooked off Anna Maria Island, Florida, the heavyweight champion weighed in at 63.7 pounds, over 12 pounds more than the previous World Record. The champ fought for 15 minutes before being TKO'd. Congratulations to Dan Munyan and Team Galati!