Founder buys back Turkish boatbuilder - Trade Only Today

Founder buys back Turkish boatbuilder

Publish date:

The founder and former owner of Istanbul, Turkey-based Numarine Performance Yachts is once again taking the helm.

Founder Omer Malaz hopes to expand the brand, with yachts ranging from 55 to 130 feet, into emerging markets, such as South America, Lebanon and Hong Kong.

A joint venture with Abraaj Capital Group in 2008 helped Numarine survive the recession, Malaz said in a statement.

Numarine is again cooperating with yacht designers Tommasso Spadolini, Can Yalman and Umberto Tagliavini.

Numarine plans to unveil new product at the Miami and Fort Lauderdale boat shows.


E-nnovation Lab to expand at 2018 Metstrade show

The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.

Aluminum, tow boats lead moderate growth in May

Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.

Retaliatory tariffs on boats to EU start today

The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.