Grand Banks Yachts was launched in 1956 as American Marine Ltd. by founder Robert Newton in Junk Bay, Hong Kong. The company builds yachts from 43 to 76 feet. Grand Banks is publicly traded in Singapore and its U.S. headquarters is in Seattle.
The builder will also consolidate its worldwide production facilities to Malaysia.
Personnel appointments at Freedom Boat Club, Viega Marine, Grand Banks, and MarineMax; also, a CEO retires at Meeco Sullivan.
The builder is increasing new-product launches, expanding infrastructure and establishing new U.S. and European headquarters.
The builder saw a “record-breaking” number of sales in its most recent quarter.
The Singapore-based company had 22 new orders in fiscal 2018.
The company, listed on the Singapore exchange, takes home the Gold award in the Small Cap category.
Grand Banks Yachts has purchased Stuart Yacht Basin in Stuart, Fla., and the marina and service facility will be the home of Grand Banks, Palm Beach and Eastbay yachts.
A resurgent Grand Banks Yachts Ltd. reported a profit of $1.47 million for the year that ended June 30.
Grand Banks Yachts is set to debut the GB60, a 65-foot cruiser that will include Twin Disc BP300 bow and stern thrusters.
Grand Banks Yachts said construction is under way on the 44 Eastbay.