| Dubai & UK. Seaquest Yachts and member of Dubai Royal family in joint venture |
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| Wednesday, 14 September 2005 | |
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Press release: Seaquest Yachts, the leading manufacturer of cruiser/racer yachts, has signed a deal to set up a joint venture with MKM Commercial Holdings LLC, a Dubai based entity owned by Sheikh Mana Bin Khalifa Al Maktoum, a member of the Dubai Royal family. The agreement will see the manufacturing aspect of Seaquest Yachts moving to Dubai whilst the well established sales and customer service office will remain at Hamble Point Marina, in the U.K., thus maintaining close relationships with existing clients. MKM has already started the process of setting up the new Dubai facility which will enable Seaquest to increase its annual production whilst maintaining the superior quality which is associated with the company. Mike Eaton, founder of Seaquest commented: - “This is a very exciting and challenging time for Seaquest. Dubai is one of the fastest growing cities in the world with a sailing scene progressing at the same pace. It is fitting that Seaquest should play an integral part of that. Our SQ36 is the current ‘New Race Boat of the Year’ in the U.S. and the Seaquest Prima 38 ‘Bounty Hunter’ won IRC class 1 in this year’s Fastnet, which is testament to our high performance ethos.” “But it’s not only about manufacturing. We will also be investing in research and development. In the New Year, Seaquest expects to be announcing an addition to the range that will build on the heritage of high performance race boats that are comfortable to cruise, which is guaranteed to cause a stir in the market.” he added. Earlier in the year, MKM Commercial Holdings LLC purchased a Seaquest 36 for the purposes of racing in the UK and for the Dubai based Maktoum Cup. Peter Hook, Director of MKM said:- “We were extremely impressed with the build quality and pleasantly surprised by the level of comfort and style below in such a well equipped race boat. After seeing the SQ36 for the first time, it became clear that this would be well suited to our home market of Dubai and it was this realisation that eventually led to the deal that was signed today. Mike is a very capable builder with a powerful vision. Combine this with the resources in Dubai and our joint venture is destined for great success”’ Seaquest will be exhibiting the Seaquest 36 and the Seaquest Prima 38 at the Southampton International Boat Show between16th – 25th September on Stand No.F6. |
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| Last Updated ( Wednesday, 14 September 2005 ) |
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