Fitzroy expects smooth sailing ahead

Fitzroy Yachts expects to be buffered from the worst effects of the global recession while other sectors of the industry crash and burn.

Auckland's Sensation Yachts is about to be sold by mortgagee sale and other sectors of the lucrative boating industry are also going down the gurgler.

Fitzroy managing director Peter White-Robinson, of New Plymouth, said it came as no surprise that Sensation Yachts was going under.

It manufactured big steel motor-boats, which was a totally different market, and had been winding down for some time.

"They have been struggling for quite a few years," he said.

He acknowledged the rest of the industry was under pressure and suffering "some hiccups".

Some smaller businesses like Genesis Marine, which makes sport motorboats, had gone into receivership and Cookson Boats, which makes offshore racing boats, had announced it would lay off staff. Both were in a very specialised markets, he said.

"It's a quite different situation from ours." In comparison, Fitzroy Yachts was building big cruising boats and the market for these still appeared to be there, he said.

"I have to say we are busy at the moment. We are seeing inquiries and we would still like another built in the near future. If we win a boat soon we should be secure for at least a year," he said.

"The market has changed at the top but there is still some light there. If we win another one we will be just fine. Clearly the recession will hang around for another year."

He revealed Fitzroy Yachts already had a "yes" response from an overseas owner but this would not be confirmed until the contract was sealed. This was expected in the next three weeks, he said.

While he declined to name the potential buyer, he did let slip he was an experienced boat owner who had owned several boats in the past, lived offshore and was a bachelor.

Meanwhile the Fitzroy Yachts' workforce was doing a "brilliant job" and the company was still in the market to take on staff if the right people were on offer.

"If good people are there we will continue to take them on. We have work for them."

Their next super yacht, a 46-metre boat, is due to be launched in April and a bigger 50-metre yacht was due to be completed in April next year.

The super yachts cost on average $50 million each, he said.

Fitzroy Yachts have been short-listed for an award at the international London boat show and find out in April how it fared.

- © Fairfax NZ News