By David Robinson
A three-year, three-part reorganisation plan for the UK’s Oyster Yachts, which was set in track following the acquisition by Dutch investment company HTP Investments in February 2012, is due to be finished by the end of 2014.
Oyster Group CEO David Tydeman told SB: “The plan will be completed by the end of this year with the last part of it involving 15 people, out of 350, which make up the financial, sales and marketing team in Ipswich.”
Part of the plan was to move the head office from Ipswich to one of the two Oyster shipyards – Oyster Yachts Wroxham in Norfolk, formerly Landamores, and Oyster Yachts Southampton, formerly Southampton Yacht Services.
Southampton will now be the head office, with a brokerage office in Ipswich and also a small commissioning base for yachts built at Wroxham.
Since the new ownership, Oyster Group has steadily expanded its two shipyards. In June 2012 the Landamores production facilities in Wroxham were acquired.
“In terms of the 100 and 125, they were built by RMK in Turkey and they have the excellent moulds and all the tooling. Our partnership with them is dormant and not cancelled.”
The newer large project is the Oyster 115 for which the company has a client and the project is moving forward slowly but as yet is not in build. A decision of where to build will be taken in the future.
“It could be at Southampton with an expansion at Saxon Wharf or it might be at another location,” Tydeman said. “It will be somewhere between Portsmouth and Poole, so a south coast location.”
Tydeman commented: “We are in a strong financial position. We have an order book worth some £75m with about 30 yachts in build and it extends to Spring 2017 because that is when one owner specially requested delivery. We are full for 2014, 90% full for 2015 and we have six or seven slots open in 2016.”