Market News – Page 454
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NewsWest Marine hires chief marketing officer
US retail chain West Marine has named Aaron Carpenter as its new chief marketing officer.
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US builder turns to solar-powered manufacturing
Scout Boats, a US-based builder of sporfishing boats, has started to generate clean renewable energy to power its manufacturing facility in Summerville, South Carolina.
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NewsRecord registration for 2019 Cannes show
The organisers of this year’s Cannes Yachting Festival have announced that exhibitor registration is already 8% up over last year’s figure. According to Reed Expositions, 529 boats over 10m in length will be making an appearance on water, including 119 sailboats and 410 motorboats – 7% more than last year.
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NewsNew president named for White River Marine Group
Springfield, Missouri-based White River Marine Group, the marine manufacturing division of retail giant Bass Pro Shops, has confirmed that Zach Kauk will succeed retiring president Les Crawford effective September 1.
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Nor-Tech doubles manufacturing space
A recent 50,000sq ft expansion in manufacturing space has US boatbuilder Nor-Tech looking for a 30% increase in production, and it hopes, corresponding sales. The move is designed to make production more efficient.
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NewsPrincess Yachts revamps Australian dealership
Princess Yachts announced at the Sanctuary Cove International Boat Show (SCIBS) that it has set up a new venture to handle its distribution in Australia. Princess has joined forces with Greg Haines, who has worked with Maritimo for a number of years.
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NewsNew owners for Marathon Boat Group
US boatbuilder Marathon Boat Group (MBG) has been acquired by Chicago-based private equity firm Altair Investments Inc. Terms of the transaction were not disclosed.
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NewsCorrect Craft acquires Merritt Precision
Milling company Merritt Precision is the latest acquisition by Correct Craft, which says in a company statement that the Florida-based maker of plugs for the marine, automotive and aerospace industries will be integrated into Correct Craft’s Watershed Innovation subsidiary and function as a standalone business.
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NewsD-Marin to manage Dubai marinas
D-Marin, one of the biggest marina chains in the Eastern Med, has taken over the management of three marinas – Al Seef, Marasi and Jaddaf Waterfront in Dubai
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2018 US boat sales highest in a decade
As the unofficial start of the US boating season gets underway this holiday weekend, the National Marine Manufacturers Association (NMMA) reports that new powerboat sales for 2018 increased 4% over the previous year to 276,000 units, the highest level in 11 years.
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NewsTexas poised to give yacht owners US$2.3m tax break
Calling it “more of a jobs bill” than a tax break, Texas State Senator Larry Taylor’s bill that would cap the amount of sales tax on boats up to 115ft at US$18,750 has moved one step closer to passage, which is expected and could cost the state US$2.3m over two ...
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Ocean Link diversifies yacht-service offerings
Ocean Link Inc, a marine plumbing specialist based in Portsmouth, Rhode Island, has been certified by Germany’s Böning Group to sell, service and install ship automation products for yachts.
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NewsSuperyacht Tenders & Toys opens Monaco division
The UK’s Superyacht Tenders & Toys (SYTT) has launched a watersports toy rental service in the Med. Based in Monaco, the new division was created in response to rising consumer demand. It also offers SYTT a base outside the UK in the midst of uncertainty surrounding Brexit, the company claims.
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NewsAzimut Yachts appoints Australian dealer
Italy’s Azimut-Benetti Group has named d’Albora Marine as its exclusive Azimut dealer for Australia. The brand was previously represented by 5 Star Motor Cruisers.
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NewsTariffs take toll on US firms
How two very different boating companies are impacted in different ways by the Trump administration’s tariff on Chinese goods
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NewsAustralian Marine Industry Awards highlight global success
An inherent element of the annual ASMEX conference is the Australian Marine Industry Awards. Always held at a gala event, the awards reflect the success of the country’s strong marine industry, covering superyachts, marine recreation and commercial marine activities.
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Bahamas targets US$50m in yacht charter fees
The Bahamian government is focused on improving revenue and is targeting what one official calls the “low hanging fruit” of existing, uncollected revenue sources such as the island nation’s 4% yacht charter fee.
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NewsUK timber modification firm grows team
Lignia Wood Company, a UK manufacturer of modified timber for the marine and other markets, has hired Dale Warren, Anthony Carroll and Chris Palmer as purchasing manager, senior technical sales executive and production manager respectively.
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NewsUS boat trailer manufacturer expands production
Magic Tilt, a US builder of marine trailers, has expanded its production facility in Clearwater, Florida by adding an additional six-bay, 8,000sq ft building for trailer service, set-up and stacking purposes.
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NewsDutch marine wholesaler reports strong Q1
Allpa Marine Equipment, a Dutch wholesaler with branches in the Netherlands and Germany, has reported an 8% jump in turnover in the first quarter of 2019, with sales benefitting from “nice weather” during the start of the year.
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