Market News – Page 397
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NewsVolvo struggles to define ‘new normal’
The Volvo Group – parent company of Volvo Penta – released financial results for the first quarter of 2020, revealing the severe impact of Covid-19 on the company’s global operations and continued uncertainty about what demand will look like once the crisis subsides. Marine division revenues weakened somewhat towards the ...
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NewsUS marine company to trial robot water taxis
A US technology company, Buffalo Automation, is planning to hold trials of an unmanned robot water taxi in the UK’s southwest port of Plymouth, hopefully this summer, once the Covid-19 situation eases.
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NewsVanquish Boats sold
Century Boats acquires Rhode Island day-boat manufacturer for undisclosed sum
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NewsCalifornia yacht brokers merge
West Coast Yachts and Dream Catcher Yacht Sales have merged and will do business going forward under the West Coast banner.
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NewsFrench boatbuilder outlines growth strategy
Alubat looks to reinforce position in the aluminium, bluewater, cruising yacht market
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NewsSwedish builder maintains production at full capacity
Similar to many other manufacturing businesses in Sweden, boatbuilder Hallberg-Rassy continues production activities despite the coronavirus outbreak. However, the restrictions on foreign travel are making it difficult for some of its customers to pick up their yachts, according to senior company representatives. Magnus Rassy, the chief executive of Hallberg-Rassy, told ...
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NewsTwo Oceans Marine Manufacturing expands range with new power catamaran
The 14m Magnum 46 Power Catamaran Walkaround is the largest in the Magnum range South African catamaran builder Two Oceans Marine Manufacturing has added a new model to its Magnum Power Catamaran range. The 14m Magnum 46 Power Catamaran Walkaround is the largest in the Magnum range ...
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NewsSmoker Craft to resume boat production on April 27
Fibreglass, pontoon and aluminium boat builder Smoker Craft Inc has announced plans to return to full production at its Indiana, US manufacturing plant following a five-week shutdown in response to the Covid-19 pandemic.
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NewsAmerica’s ‘Discover Boating’ sees boost in consumer interest
Despite circumstances surrounding the coronavirus pandemic, America’s Discover Boating marketing platform is seeing a boost in visitor traffic and growth over the past year, providing early indicators of higher consumer interest in boating
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NewsMarineMax Q2 results up; “partially impacted” by coronavirus
The largest national retailer of boats and yachts in the US is reporting slightly improved fiscal second quarter results while bracing for the full impact of the coronavirus pandemic. Nonetheles, MarineMax said it has seen strong online interest and even an uptick in sales for April.
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NewsNetherlands: longer lockdown puts 20,000 sector jobs at risk
The Netherlands has extended its coronavirus lockdown through May 20, piling on the economic pain for the boating and leisure sectors that expect damage to total €1bn. The HISWA-RECRON lobby also says close to 20,000 jobs are at risk. It has expressed dismay that the government has not yet accepted ...
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NewsSureShade relocates production to Florida
Move to existing Taylor Made facility to allow greater vertical integration and production capacity
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NewsDamen builds six patrol vessels with Hull Vanes
Damen Shipyards of the Netherlands is completing an order for six police patrol vessels, each equipped with a Hull Vane – a below-the-transom wing that cuts fuel use, renders a higher speed, dampens a ship’s motions and makes for a quieter ride.
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NewsBoero reports strong 2019, with Yachting division sales up 7%
Sales are being driven by the superyacht segment
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NewsWinch Design forms Employee Benefit Trust with key shareholding stake
JAC Holdings, the ultimate owner of the Winch Design companies, has a new significant shareholder which in effect takes the form of an Employee Benefit Trust. The new trust was created last year and according to a filing made to Companies House, the UK’s Business register, by JAC Holdings, the ...
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NewsGEM Products awaiting expansion approval
Despite an unknown “virus hangover”, GEM Products is moving forward with expansion plans, currently awaiting local government approval.
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NewsAkzoNobel Q1 profitability up 31%, but revenues down 6%
Paints and coatings giant AkzoNobel posted a 31% rise in Q1 profitability – to €214m – but saw its revenues sink to just over €2bn, a drop of 6%.
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NewsDutch yard reports strong first-quarter sales
Zeelander Yachts says business was up 30% in the first three months of the year
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NewsSanlorenzo reopens, aiming for limited financial impact
Sanlorenzo’s Executive Chairman Massimo Perotti reported to shareholders today that all of the yacht builder’s facilities were operational as of 20 April and the company is aiming for a limited impact on results for 2020
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