Multimillion-dollar expansion for Martimo

By David Robinson
Tue Dec 5 2017, 16:11 PM
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Land purchase supports global growth ambitions

Australian yacht-builder Maritimo is making a multimillion-dollar investment to support ambitious global expansion plans. A major land purchase, more international dealers and new models are all part of the company’s future strategy.

Maritimo says that 2017 was another successful year of increased brand awareness internationally, and as part of that ongoing crusade it has purchased the commercial property adjoining its current headquarters on the Gold Coast to enable future expansion.

From its Coomera Marine Precinct, the company has steadily expanded internationally over its 15-year history and now boasts a network of 44 dealer partners in 16 countries. “This is an ongoing process,” a spokesman told IBI, “but looking at quality partners not quantity. Our focus is on South East Asia and the UAE, as well as further pushing into Europe and the USA.”

CEO Garth Corbitt says: “Global expansion is ongoing and the company will continue to market approximately half of the vessels it produces internationally. To cater for that growth, Maritimo has purchased a 3.09ha site at 9 McPhail Road which borders the existing fibreglass factory's shed and that would enable it to build more vessels in the years ahead.”

The amount spent on the land purchase has not been disclosed.

The combined site area, which now includes the Waterways Drive and new McPhail Road site, is 4.664 hectares. "With the new property purchase our total manufacturing plant under roof is now 9,314sq m excluding office space," Corbitt commented.

"This year we have enjoyed record success in Europe and in the USA, and our reach is extending into areas such as South-East Asia, South America and Canada,” he adds. “Word is spreading that the Maritimo brand spells quality, design and style, functionality and above all sea-keeping ability.

"Most overseas residents look at Australia as being somewhat isolated and in a rugged part of the world with a dramatic and sometimes challenging coastline,” Corbitt suggests. "They consciously, and sometimes sub-consciously, link that environmental picture in their minds to the product that we provide and have proved can handle the toughest conditions.

"We have come a long way in 15 years, but there is much more to do,” he adds. "Our growth plans are tied to both national and international markets and continually pushing the brand into new areas.”

Within the expanded Coomera site, Maritimo will expand R&D over the coming months and move its small glass parts into this area from the Boatmasters site. After this it will look at how best to expand manufacturing capacity as well as developing new models to expand the company’s model range. The 200-member workforce will, for now, remain unchanged.