Scotland’s largest commercial shipbuilder is investing £12m on a yard redevelopment that will allow it to build vessels up to 130m. David Robinson reports.
Ferguson Marine, Scotland’s largest commercial shipbuilder is planning to enter the superyacht market, Superyacht Business‘ sister tittle IBI reports. The move follows on from a £12m investment plan that involves the redevelopment of the yard due for completion by the end of 2016.
The redevelopment of the yard will allow the company to build vessels up to around 130m (427ft). The project involves a total refurbishment of the facility with upgrades for some existing buildings and construction of new ones.
Ferguson Marine was taken out of administration by the Clyde Blowers Capital group in September 2014. Clyde Blowers, which was established in 1999, is a Glasgow-based independent industrial company led by entrepreneur Jim McColl.
“Ferguson has no history of building yachts but we see it as a potential market for the future,” explains John Morgan, director of business development at Ferguson Marine. In order to understand the challenges of the yacht market, the company plans to purchase a yacht and then enlarge it by inserting a new section and rebuilding it.