Yacht firm Fairline sails into calm waters

Fairline in Sallow Road, Corby
Fairline in Sallow Road, Corby
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A luxury boat manufacturer with bases in Corby and Oundle believes the outlook for its future is bright.

The owners of Fairline Boats say their investment over the past 18 months has secured the brand’s future as one of the world’s iconic luxury motor yacht manufacturers at a time when the overall luxury boating market has been flat.

The company’s annual results for 2012, which are due to be released next month, are expected to show the company taking steps to return to profit after three years of losses.

The firm’s owners, Better Capital and Royal Bank of Scotland, have undertaken an extensive investment programme, including a £2.8m investment in its manufacturing facility in Corby, which will be launched on April 16.

The new manufacturing facility sees the company move from eight single model lines to three mixed model lines. The company is now focusing on plans to expand its product range from eight to 15 models over the next two years.

Chief executive Alistair Schofield said: “Over the past 18 months a significant amount of resource, expertise and investment has gone into making Fairline what it is today. During this period, the focus has been on investment in our manufacturing processes, developing innovative new products and enhancing our dealer network.

“The new manufacturing changes at Corby have created a world class facility which will underpin Fairline’s future as a leading luxury boat manufacturer.”

Fairline chairman Peter Williamson added: “We are exceptionally pleased to have played a part in restoring Fairline to its rightful place in the luxury marine market and congratulate the whole team for their efforts in successfully turning this business around.”

Fairline plans to introduce three new models this year – the Targa 48 Open, which has already got orders booked to 2014; the Squadron 48; and the Targa 48 Gran Turismo.