Boat firm is plotting new course for calmer waters

Bosses at a luxury boat manufacturer are hoping a major show will buoy up the company for a tough year ahead. Managers and staff at the Oundle- based Fairline Boats are focused on preparing stands at the annual London boat show, which gets underway on Saturday.

A spokesman said: “The show is the first in the European boat show season demonstrating the latest in marine innovation, design and technology.”

While the firm is not expected to put any new designs of boats on display at the show, it is hoping to wow the boating world later in the year.

A spokesperson said: “Fairline intend to take 2013 by storm. We will be showcasing a wide range of luxury motor yachts with the Targa 38, Targa 50GranTurismo, Targa 62 Gran Turismo, Squadron 42, Squadron 50, Squadron60, Squadron 65 and Squadron 78, all on display.”

Many of the boats were on display at the Southampton boat show last year, with bosses hoping that its £ 850,000 price tagged Squadron 60 and Targa 62 Gran Turismo would boost its fortunes.

Last year was a difficult time for the 45- year- old company, which axed more than 150 jobs during the 12 months.

James Robinson, the firm’s sales and marketing director, told the Peterborough Telegraph: “Boat shows are key to our business and we have had a positive start to the season.

In July two years ago, the firm was bought in a multi-million pound deal.

The firm, which has bases in Nene Valley Business Park in Oundle and off Steel Road, Corby, was bought for an un- disclosed sum yesterday in a joint venture between the Royal Bank of Scotland ( RBS) and a private equity firm Better Capital Limited.

Fairline Boats is celebrating after its elegant Targa 62 GRAN TURISMO has been nominated for a 2013 Motor Boat of the Year Award in the Sports Cruiser above 45ft category.

Oliver Win bolt, head of marketing at Fairline Boats, said: “As a previous winner of the Motor Boat of the Year Awards we are delighted to once again be nominated for such a prestigious accolade.

He added: “We hope to repeat the success of last year and bring home the award for Sports Cruiser over 45ft with the Fairline Targa 62 Gran Turismo.”

Fairline Boats was started by Jack Newingtonin 1963. The company reached its peak as an £ 150 million firm in 2008, but shortly after announced 500 job losses as the credit crunch hit.