Princess Yachts - Funding
Princess receives support from Lloyds TSB
By IBI Magazine
Following the news earlier this year that Princess Yachts is to begin building a new range of tri-deck cruising yachts over 30m (100ft) in length, the UK boatbuilder today revealed that it is receiving "financial guidance and support" from Lloyds TSB Corporate Markets on various international trade issues.
Princess is currently working on the design and manufacture of its new M Class series, the Princess 32m (105ft) and Princess 40m (130ft), at its newly acquired site at Devonport Dockyard, Plymouth. The two yachts will be Princess Yachts' first-ever, tri-deck models, and were designed to meet customer demands for increasingly larger, high-performance vessels.
"The development of these latest models represents a real milestone for Princess Yachts and we're delighted to have the support of Lloyds TSB," says Princess finance director Ian Duffin. "We have a very good working relationship with the bank and value having a strong local team, led by Andy Wilton, which works in partnership with us, providing expert advice and solutions that match our needs."
Lloyds TSB Corporate Markets provides financial banking and advisory services to businesses and organisations with a turnover of £15m and above.
Princess Yachts generated annual sales of around £206.6m in 2008, up from £195.6m during the previous year. The company traditionally builds flybridge and V-Class motoryachts from 13m (44ft) and up.
EMS for Marine Surveys - All Types, Boat Surveyors, Expert Witness, Dispute & Mediation Services
By IBI Magazine
Following the news earlier this year that Princess Yachts is to begin building a new range of tri-deck cruising yachts over 30m (100ft) in length, the UK boatbuilder today revealed that it is receiving "financial guidance and support" from Lloyds TSB Corporate Markets on various international trade issues.
Princess is currently working on the design and manufacture of its new M Class series, the Princess 32m (105ft) and Princess 40m (130ft), at its newly acquired site at Devonport Dockyard, Plymouth. The two yachts will be Princess Yachts' first-ever, tri-deck models, and were designed to meet customer demands for increasingly larger, high-performance vessels.
"The development of these latest models represents a real milestone for Princess Yachts and we're delighted to have the support of Lloyds TSB," says Princess finance director Ian Duffin. "We have a very good working relationship with the bank and value having a strong local team, led by Andy Wilton, which works in partnership with us, providing expert advice and solutions that match our needs."
Lloyds TSB Corporate Markets provides financial banking and advisory services to businesses and organisations with a turnover of £15m and above.
Princess Yachts generated annual sales of around £206.6m in 2008, up from £195.6m during the previous year. The company traditionally builds flybridge and V-Class motoryachts from 13m (44ft) and up.
EMS for Marine Surveys - All Types, Boat Surveyors, Expert Witness, Dispute & Mediation Services
(22 October 2009)
posted by EMS @ 1:59 PM
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