Business growth
Poole boatbuilder Sunseeker International will invest £38 million of working capital to "accelerate its plans".
21 September 2020
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Sunseeker International, together with backing from its majority shareholder Dalian Wanda, is investing additional working capital with immediate effect in order to accelerate business plans for the company.
The brand is investing over £38 million in new product development between 2020–23, which will result in its range doubling to 22 models, quicker than originally planned.
Sunseeker will launch five new models before the end of this year: the 90 Ocean, 88 Yacht, 65 Sport Yacht, Manhattan 55 and Predator 55; a remarkable achievement against the background of a global pandemic.
Andrea Frabetti, CEO at Sunseeker International, commented: “This significant support reflects our shareholder’s belief in the entire Sunseeker team and its commitment to our business, brand and manufacturing in Dorset.”
Sunseeker International confirmed that it has been back to full production since June as it continues to design, manufacture and deliver luxury performance motor yachts.
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Andrea continues: “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.
“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.”
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