Cresta Motor Yachts builds boats for the recovery

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New Chinese manufacturing process creates affordable luxury motoryachts

Cresta Motor Yachts builds boats for the recovery
Cresta Motor Yachts builds boats for the recovery

Australian luxury brand, Cresta Motor Yachts Limited says it has begun construction in China of three new and innovative, class-leading motoryachts, the 62 Open Flybridge, 66 Enclosed Flybridge and the 70 Motor Yacht.

The company said the new production run at its facilies in the northern Chinese coastal port of Wei Hai followed a three-year development phase and is progressing in line with expectations. The launch of the new vessels is expected in early 2011.

Cresta said its point of difference to other premium boatbuilding companies is because of its development of a production process that enables Cresta to manufacture a high-quality motoryacht at a much lower price point than its Australian and international competitors.

Riding on that confidence, Cresta explained it is positioning itself to support new sales in the coming six months, with the business expected to be highly profitable in the 2010 calendar year and beyond.

"Sales targets have been conservatively set and are viewed as highly achievable by the board of directors. Cresta believes there will be a significant uptake of new vessels following the improvement of global financial markets and as the recovery of financial markets returns to full swing in 2011," said the company in a statement.

Cresta said its production plant in Wei Hai was selected as the perfect location to build as it is renowned for its local boatbuilding industry and the availability of skilled workers. "Many of Cresta’s Chinese boatbuilders come from families who have been in the industry for over eight generations," said the company.

In producing competitively priced boats, Cresta cited substantially lower labour costs compared to Australia and internationally, but that all its boats are made under strict supervision from Australian and NZ boatbuilders, ensuring all craft are constructed to internationally recognised standards.

Cresta added further reduced manufacturing costs by supporting the local industry using a number of Chinese raw materials in the decks, especially teak, which are purchased from local tree growers.

The boatbuilder said it offers customers a unique selling proposition, all of its vessels are semi-customised, providing owners flexibility in the design and appropriate power for their boats.

Cresta said its semi-custom approach to production ensures owners have a vessel that reflects their own personality, achieved in conjunction with the company’s interior design team. "With unlimited choices, including open access to all engine propulsion systems, owners of Cresta Motor Yachts are uniquely placed to enjoy the best of all worlds," said the company.

The new range from Cresta, in detail are:

* 62 Open Flybridge– This 62-footer is targeted at amateur and professional sportsfisherman. Cresta says the vessel is perfect for diving, snorkeling or ocean adventure;

* 66 Enclosed Flybridge– This model is aimed at both coastal cruising and ocean adventures. Company said it boasts a versatile interior and plethora of standard benefits;

* 70 Motor Yacht– The company’s flagship, which it promotes as combining luxury, sophistication, accommodation and affordability "on a scale never offered before".

Cresta said the innovative architecture of the new range of yachts resulted from three years of research and preparation by internationally recognised naval architects and the Cresta team.

"This has ensured the new vessels can take full advantage of the latest technology in both engine propulsion and construction materials," said Cresta. "With industry-best practice in mind, the vessels have been designed in cooperation with the world’s major engine manufacturers and their naval architects to ensure compatibility with the latest technology from those vendors."

Adrian Ballintine, chairman of Cresta Motor Yachts said: "It is a very exciting time for Cresta as the work of the naval architects begins to take shape in a physical form. The high standard of the design and computations made available to the production team by the vessels’ architects has facilitated for a very smooth and efficient approach to the boatbuilding process.

"We are looking look forward to providing further updates on the progress of production in Wei Hai, China and are eagerly anticipating the official launch of the new vessels in early 2011."

Cresta Motor Yachts said it has listed with the Australian Small Scale Offerings Board (ASSOB) to raise capital to fund the further expansion of the business. The offer, it said, is open to sophisticated investors.

For further information please contact: Adrian Ballintine, phone (07) 5577 8904; Rod North, phone (03) 9510 8309 or 0408 670 706.

Image: Looking ahead, concept of the Cresta 77 Enclosed Flybridge; Inside Cresta’s Chinese manufacturing works.


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