Local company capitalizes on weak dollar to achieve record sales in Europe

Dubai, February 20, 2008: Gulf Craft Inc, the Middle East's largest yacht manufacturer, is celebrating its most successful Dusseldorf Boat Show appearance having achieved record sales of over 5 million during the 9 day event with a further 7 million worth of deals currently under negotiation.

Exhibiting the Majesty 56 at the premier boat show, Gulf Craft experienced a high level of interest among visitors. Recently Gulf Craft has increased its growing presence and client base in Europe with the new generation of Majesty yachts appealing to the European market. The local manufacturer has also benefited from the decline of the dollar against all major currencies.

"Dusseldorf Boat Show continues to be a great platform for Gulf Craft which has consistently achieved excellent sales at the event. Global economic trends such as a weak dollar combined with a strong Euro has resulted in our yachts being more competitive than ever in Europe and has given us the edge over our international competitors."

"In addition, the new generation of Majesty yachts features a sleek, modern style which is much favoured among discerning European customers," said Gulf Craft Executive Manager Erwin Bamps.

"The Majesty 56 epitomises the quality of workmanship and luxury of design and fittings that are synonymous with Gulf Craft and is an ideal model to showcase at Düsseldorf 2008 - an event that sets the benchmark for the industry as a whole," Bamps continued.

Of nearly 2,000 exhibitors at this year's Düsseldorf show, the UAE based company is one of only a handful of companies worldwide capable of producing vessels of 100 ft and over.

After years of being the largest exhibitor at the Dubai International Boat Show - the launch pad for the company's successful entry to export markets - Gulf Craft began taking part in events further a field, regularly participating at Düsseldorf, as well as the Cannes, Monaco, and Mumbai boat shows.

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Notes to editors:
Gulf Craft Inc, based in Ajman in the United Arab Emirates, exports more than 70 per cent of its output and its super-luxury vessels are to be found in virtually every major harbour of the world.

Although Gulf Craft Inc began life building small pleasure craft, it is now a mainstream producer of multi-deck masterpieces where neither expense nor effort are spared in setting the definitive 'state of the art' standard for ocean-going luxury.

It is one of only a handful capable of producing vessels of 100-ft and over, with an annual production of about 700 vessels up to 150 ft overall length.

Since launching its Majesty Yachts brand in 2004, orders have been pouring in. Its first top-of-the range Majesty 130-footer has been delivered to its Australian customer and a 145-footer is now on the drawing boards.

For further details contact: 
d'pr: Linsey Worgan,
Telephone: +971 (0)4 3311104  
Email: linsey@devents.ae

© Press Release 2008