| 01 Mar 2010 |
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Emocean Marine and Gruppa InRizzardi to Build Yachts in Abu Dhabi
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Joint venture to transform Abu Dhabi manufacturing landscape; first yacht to roll out of shipyard in ICAD II in 2011
Abu Dhabi - March 1st 2010: Emocean Marine, the Abu Dhabi based yacht manufacturer and the infamous Gruppa InRizzardi, the prestigious Italian umbrella group for eleven marine companies, today announced a landmark joint venture where both companies will invest in producing a range of yachts in Abu Dhabi. The plan is to expand on Emocean's current facility in the Industrial City of Abu Dhabi (ICAD II) and roll out the first yacht in 2011, Inrizzardi have also included Emocean's Voodoo 27 on their option list for tenders for Super yachts, in addition to selling a unique version of Emocean's own 27 under their BAT brand in the European Market.
"Abu Dhabi gives us many benefits which cannot be capitalized on anywhere else in the world. We have a proactive and expansionist industrial sector, backed by the government, a strategic location at the center of the globe, a growing yachting hub and destination, as well as a competitive economic structure," said Corrado Rizzardi, CEO of Gruppo InRizzardi. "This joint venture is a historic step in my Group's history and we look forward to producing high end, state of the art yachts here in Abu Dhabi."
The yachting industry has seen significant growth over the past five years as marinas in the country have mushroomed with still many more to come. With demand for exceptional yachting products at high levels, Emocean is looking to put Abu Dhabi on the global yachting map, and expand its production capacity to satisfy regional and international customers.
Located at ICAD II, which is focused on light-to-medium manufacturing, engineering and processing industries, including wood processing, engineering, oil and gas, construction materials, and chemicals, will give the joint venture access to building materials straight from the source.
"Since we launched last year, we have come a long way both in terms of product quality and production capacity, as well as sales and distribution due to our strategic partnerships with leading companies and the long term vision of our investors," said Hamad Kassab Bachi, Chief Executive Officer of Emocean. "Our joint venture with Gruppa InRizzardi is a natural step for us as we know that Abu Dhabi will soon be the yachting hub of the region."
Emocean's recent market expansion push, after a very successful European launch, includes distributor agreements with Prestige Marine Yachts, a subsidiary of the renowned Abu Dhabi based Prestige Cars, and InRizzardi for international distribution. Prestige Cars owns a unique and unrivalled brand positioning amongst car enthusiasts in the region, and globally with its close association to the legendary Mansory cars. This market crossover is key to future product development and branding presence.
Gruppa InRizzardi, previously known as the Rizzardi Company, is today a solid reality in the pleasure craft industry, offering assistance and docking services in addition to its core business of construction. InRizzardi brands are legends in their own right - Rizzardi, Posillipo, Italcraft, Diano, Santa Yachts and Parisi. The Group was one of the first to embrace the model of 'regrouping', which has allowed it to build a formidable reputation over the years.
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