New Owner at Proteksan Turquoise in Turkey
Published: Thursday, 29 January 2015
Mohammed Al Barwani recently acquired a majority stake in Turkish superyacht builder Proteksan Turquoise. This is the second major investment in the superyacht industry for Dr Barwani who, since 2010, has been the owner of leading Dutch shipyard, Oceanco.
“This is a strategic investment to capitalise on the differentiated opportunities in the super yacht industry” says Dr Barwani.
When asked about possible operational synergies, he was clear that the two yards would be kept separate and independent.
“We will fully respect the differences between these two brands. Each has its own distinct strength and that’s exactly why I have invested in them both.”
Proteksan Turquoise will focus on yachts between 40 metres and 80m, while Oceanco builds above 80m. “But length is only part of it,” he says. “Different owner segments have different needs and the best way to meet these needs is through differentiated strategies.”
Mehmet Karabeyoglu and his late partner Hayati Kahmi established Proteksan Turquoise in 2001. The yard at Tuzla, outside Istanbul, employs a highly skilled workforce that has built 20 superyachts including M/Y Talisman (2011), M/Y Vicky (2012) and M/Y Ileria (2013).
“This is great news for the yard,” says Mehmet Karabeyoglu, CEO of Proteksan Turquoise. “Mohammed Al Barwani has a great track record in business with successful investments in a wide range of industries as diverse as petroleum, mining, engineering, hotels and insurance.”
Turkey has a highly skilled workforce with a long tradition in shipbuilding and Proteksan Turquoise is a leading Turkish yard. Dr Barwani plans to enhance this reputation further by combining leading-edge design and innovative engineering with enhanced quality control and management systems.
“This is an exciting project and I very much look forward to launching future projects as well as yachts currently under construction,” Dr Barwani says.