Recently, Grand Banks revealed its yearly financial review, which also reported on the success of their five-year business plan.
A four-year investment in expansion of the main manufacturing facility in Malaysia was completed, now providing more than double the undercover manufacturing capacity from 270,000 to 550,000 square feet, and fully equipped with the latest technology. Robots help to accelerate the new product innovation. 150 new staff were recruited and extensively trained during 2019, ready to help deliver the company’s contracted order book and meet the additional demands for Grand Bank’s new models.
The acquisition of the Stuart facility in late 2018 FY has seen the facility expanded in 2019 to become the Grand Banks USA HQ, housing the global marketing and client support teams. Mr. Peter Truslow was brought on-board to head up the Grand Banks and Palm Beach brands’ North American sales and marketing operations.
“We are all very proud of what we have achieved this last year, and in previous years to get us where we are now. We have done all the hard work, and we will be seeing the results of all that during this coming year,” quoted CEO Mark Richards.
Grand Banks invested in developing 5 new models during the 2019 financial year with tooling completed for 3 of them, while at the same time meeting the current production demands. This brings the entire combined Grand Banks and Palm Beach range to 14 models from 42 feet through to 90 feet.
There have been product debuts in Australia, New Zealand, Europe and USA, showcasing that the new Grand Banks and Palm Beach models.
The PB70 is the new Palm Beach flagship yacht, capable of top speed of 38 knots, and impressive industry-leading fuel efficiency figures.
The 45 knot capable Palm Beach GT60, the big brother to the award winning GT50, will debut early in 2020 at the Miami International Boat Show.
The new Grand Banks GB54 will be released at the end of this calendar year, and will debut at the Palm Beach International Boat Show in April 2020
This last year saw Grand Banks develop the contracted order book to its highest level in more than 10 years.