Fairline cites recent investments for turnaround advances
Published: Tuesday, 19 March 2013
UK’s Fairline Boats recently announced significant improvement in business performance following a substantial investment from its owners, Better Capital and the Royal Bank of Scotland, over the past 18 months.
An extensive investment programme and a recent £2.8-million investment in Fairline’s new facility in Corby have demonstrated their commitment to the brand. This facility has seen the company move from eight single models to three mixed-model lines and the creation of a dedicated centre for moulding and furniture production.
The changes allow Fairline to achieve greater production process flexibility, drive higher labour productivity and ensure optimal material utilisation. Fairline now has plans to expand its product range from eight to 15 models over the next two years.
The Fairline Targa range of boats
“Over the last 18 months a significant amount of resource, expertise and investment has gone into making Fairline what it is today,” said Fairline CEO Alistair Schofield. “During this period, the focus has been on investment in our manufacturing processes, developing new products and enhancing our dealer network. The new changes at Corby have created a world class facility which will underpin Fairline’s future as a leading luxury boat manufacturer.”
Peter Williamson, operating partner at Better Capital and chairman of Fairline, added: “We are very pleased to have partaken in restoring Fairline to its rightful place in the luxury marine market and congratulate the whole team for their efforts in turning this business around. The exciting product announcements, new manufacturing developments and the team’s commitment to outstanding service gives me great confidence in the future of this business.”
Fairline plans to release three new models in 2013 – the Targa 48 Open, which is already forward sold until 2014, the Squadron 48 and the Targa 48 Gran Turismo.
Further international expansion through a growing global sales team already increased the worldwide dealer network by 20 percent in 2012, with a further increases planned for 2013. Fairline will announce its 2012 annual results in April.