Nord West seeks to buy Swedish boatbuilder - Trade Only Today

Nord West seeks to buy Swedish boatbuilder

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Swedish boatbuilder Nord West said it is in negotiations to buy Sweden's Najad Yachts, which filed last month for bankruptcy.

“It is with great pleasure we can participate in the reconstruction of the Najad brand,” Nord West founder and owner Benny Martinsson said in a statement.

“Najad represents one of the most respected producers of high-qualitative sailing yachts in the world, with a brand name that few can surpass,” he added. “We are very familiar with the business since we are neighbors here on Orust, and together with Nord West, Najad will have all the possibilities to regain the position as one of the world’s best sailing yacht producers.”

Najad was founded in 1971 and has produced more than 2,000 sailing yachts. During the last production year, the yard produced 25 yachts.

The company filed for bankruptcy after an “intense period of expansion from 2005-2007, when the company’s investments and sales escalated rapidly. After the financial turmoil of 2008 the sales decreased significantly and, despite the following years’ production cuts, the company was forced to file for bankruptcy in the beginning of August,” Nord West said.

Nord West was founded in 1985 by Benny Martinsson. It has more than 130 employees.

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