Future of Zodiac and Avon RIBs in doubt - Velos

Future of Zodiac and Avon RIBs in doubt

Motorboat & Yachting: Two major RIB brands could disappear from the market after Z Marine, the parent company of Zodiac and Avon RIBs, was declared insolvent.

 

The future of the Zodiac and Avon RIB brands is under threat, with parent company Z Marine declared insolvent earlier this month (April 2). The French manufacturer was named in insolvency proceedings at the Commercial Tribunal of Nanterre, our sister publication IBI reports.

It is understood that receivership proceedings have begun, as the company enters a six-month period of official observation. Investment fund OpenGate Capital currently owns Z Marine and made severe changes last year, which involved making 500 workers redundant.

Production was also relocated to Tunisia, following the closure of Z Marine’s facilities in Rochefort and Saint Jean d’Illac. Launched at the 1969 London Boat Show, the Avon Searider is believed to be the world’s first commercial RIB.

Both Avon and Zodiac remain popular brands in the RIB world, attracting a strong volume of orders at the recent Paris Boat Show, so hopes are high that a suitable buyer can be found in the coming months.

UPDATE: Z Marine North America has moved to distance itself from its French counterpart. The US-based division was keen to stress that it is financially independent and trading healthily.

See article at Motorboat & Yachting – Click here

Contact Us

Tel: +44 (0)20 7929 4058
Fax: +44 (0)20 7933 9350
Click here to email us

Velos Insurance Services Limited
Notcutt House,
36 Southwark Bridge Road,
London
SE1 9EU
View map

Connect with us


Latest News

How Much Does Commercial Boat Insurance Cost? (Examples Included)

Boat insurance is one of the first things you should always consider for any kind of commercial vessel. It is essential for any ship, but it is crucial for those whose livelihoods depend on their vessels! However, to find

January 14, 2022 read more