Fairline Yachts launched a recruitment drive at its factory in Oundle, England.
The 20 additional staff members that Fairline plans to hire will help fulfill the company's order book for 2017 and beyond after Fairline's appearances at boat shows in Cannes and Southampton in September, U.K.-based Insider Media Limited reported.
The investment follows a turbulent time for Fairline, which went into administration — analogous to Chapter 11 bankruptcy protection in the United States — last December, two months after Wessex Bristol Investments acquired the company from former private equity backer Better Capital.
Hundreds of jobs were cut from Fairline’s 450-member workforce; 72 remained at the time to assist administrators at the company’s bases in Oundle, Corby and Ipswich.
Fairline was bought out by Fairline Acquisitions Ltd., which is controlled by Russian investors, in January.
"This is an exciting time for Fairline Yachts,” Fairline managing director Russell Currie told Insider Media Limited. “Hot on the heels of two very successful international boat shows — Cannes and Southampton — where customer deposits were received for boats from across our range, we are now preparing to exhibit at the Fort Lauderdale International Boat Show in Florida next month.”
The 20 new jobs will bring Fairline's headcount to almost 250.
"Our forward order book for next year and beyond is looking very robust. This success is thanks to outstanding product designs, a skilled workforce and a committed global dealer network,” Currie said.
“We are delivering on our promise to build boats that customers want to own and dealers want to sell, and I am pleased to say that we have reached the point where we now need to grow our team further so that we can continue to do so.”