Motorboat & Yachting: Princess Motor Yachts Sales has announced a new partnership with Chris-Craft, which will see the American range sold in the Balearic Islands.
Princess Motor Yacht Sales have more than 20 years’ experience of selling in the Balearics, and wants to unlock the potential of Chris-Craft models in this area of the Mediterranean.
The company has already spent upwards of £100,000 on setting up a dedicated Chris-Craft sales and service centre at Puerto Portals Marina in Mallorca, and appointed Matthaeus Grasl as Sales Manager.
Max Whale from Princess Motor Yacht Sales praised the Chris-Craft range and says: “The attention to detail is simply exceptional and we felt that the range sits well alongside Princess. There is scope to personalise each boat, and, with the timeless design and craftsmanship, we are certain there will be a lot of interest”.
Chris-Craft has a substantial following in the Mediterranean, with its most recent model, the Launch 36 receiving high praise upon its launch at the 2015 Cannes Yachting Festival.
Demonstrator models based in Port Adriano and Cala D’Or include the Capri 25 and Corsair 28.
Motorboat & Yachting: 2016 British Motor Yacht Show will see the launch of the Princess 49 – the first IPS-powered flybridge from the Plymouth yard.
The Swanwick Marina event will also feature models from Fairline and Sunseeker, but Princess Yachts hopes to steal the show with this new arrival.
Announced at the 2015 Southampton Boat Show, the Princess 49 is the first flybridge model from the Plymouth yard to feature Volvo Penta’s IPS pod-drive propulsion system.
Princess is estimating a top speed of 35 knots, with an economical fast cruising speed of 30 knots.Key features include a pair of seating areas on the flybridge, with the aft bench converting into a sunpad. An icebox is fitted as standard, but the upper grill and wetbar is an optional extra.
The main deck features a galley-aft layout with a full-height fridge/freezer, while the accommodation is split between a full-beam amidships double, twin bunk beds to starboard, and a scissor-action double in the bows.
Princess fans hoping to get a first glimpse of the Princess 49 should head along to Swanwick Marina on May 20 for the official unveiling.
Motorboat & Yachting: Princess Yachts are cutting 172 job, down from the company’s original estimate of 350 workers because of the restructuring.
It was announced in January that Princess estimated that 350 jobs could be lost.
“Thanks to positive engagement with the workforce and trade union representatives, and a number of employees seeking voluntary severance, the company has been able to minimise the impact of redundancies”, said a spokesperson of the company to the Plymouth Herald.
Meanwhile Workers’ Union Unite, Dave Springbett told the BBC News: “The fact the union and management together have managed to protect the number of compulsory redundancies by a big margin is good news, but that shouldn’t take away from the drastic effect it’s going to have on some workers.”
Princess Yachts are one of the biggest employers in the South West, employs more than 2,000 people in Plymouth and the company recently established an out-placement service to help the 172 former employees find new jobs.
Motorboat & Yachting: Princess Yachts has announced line-up of eight models at the 2016 Swanwick Marina Pre-Season Boat Show.
The line-up for the 2016 Swanwick Marina Pre-Season Boat Show is starting to take shape, and it looks like Princess Yachts is going to steal the show with extensive line-up of eight models from the current collection with the most notable, Princess V58 Open.
The largest model in the Princess collection will be the Princess 98MY, while the Princess 56 will be the smallest new model on display at Swanwick Marina from March 5-6, with free entry and ample on-site parking.
Yachting & Boating World: New chairman Antony Sheriff joins shortly after Princess announced it would cut 350 jobs.
Antony Sheriff will take over from Philippe Mellier at Princess who will remain on the board of the Princess holding company.
Antony Sheriff used to work for McLaren for a decade but he took the carmaker to court following his resignation in 2013.
Antony Sheriff joins Princess just weeks after it was announced that it would cut 350 jobs as part of a company restructure. Princess employs around 2,000 at its headquarters in Plymouth on the UK’s south coast, and said the cuts would affect the back office, development and production divisions.
Princess is launching new yacht models in 2016 despite its economic troubles.
In a statement about the management change, managing director Chris Gates said: “It was an absolute pleasure to have worked with Philippe Mellier over the past year as he was really passionate about the brand and product and I thank him for all of his efforts.
“I’m delighted to welcome Antony Sheriff to Princess as our new executive chairman. I can clearly see his experience and energy adding tremendous value to our business and I am looking forward to working alongside him to further develop Princess over the coming years.”
“Over 50 years, Princess has built a well-deserved reputation for building the finest boats in its class and I am looking forward to working with Chris and the rest of the brilliant team at Princess, to continue to build the best and most innovative products while delivering the best customer experience in the industry.
Motorboat & Yachting: Up to 350 employees will lose their jobs at Princess Yachts as part of a wide-scale restructuring of the Plymouth-based yard.
Princess Yachts has announced that up to 350 jobs will be lost as part of a major restructuring at the Plymouth yard.
The cuts to the 2,000-strong workforce will be spread across back office, development and production divisions, the company added.
However, there will be no drop in production capacity, Princess claimed, due to the streamlined processes introduced with the launch of its latest models.
Chris Gates, managing director of Princess Yachts, said: “Today’s announcement of job losses, although not undertaken lightly, is designed to maintain the business in the best possible shape for the next phase in its evolution.
“Like all successful companies, we need to be able to adapt and adjust the constitution of our workforce periodically.”
The news comes just two days before Princess is due to unveil its new 75 Yacht (pictured above) at the London Boat Show.
Difficult trading conditions have weighed on Princess’s finances, with the company posting a £11.3m loss for the 2014 financial year.
However, the firm claims to have a strong order book, following positive appearances at the recent Southampton, Cannes and Fort Lauderdale Boat Shows.
The full statement on the Princess Yachts restructuring is as follows:
Princess Yachts is to undertake large-scale restructuring of manufacturing at its Plymouth headquarters, with the loss of up to 350 employees, the company announced today.
Having successfully weathered what proved to be a gruelling year for Britain’s yacht-building industry in 2014/15 – with factory closures, redundancies and insolvency among its competitors – Princess is looking to the new year with confidence and is implementing a range of long-term strategic measures designed to steer the business and its 2,000-strong workforce securely into the future.
With six new models across the M Class, S Class, V Class and Flybridge yacht ranges taking the company into new markets and sectors, and strong order books following good performances at the Cannes, Southampton and Ft. Lauderdale boat shows, Princess is entering 2016 with assurance and optimism.
Today’s announcement of job losses affecting back office, development and production divisions, while regrettable, forms part of a strategic plan to improve productivity across the company’s Plymouth facilities. Despite the tough trading climate from 2008 onwards, high staff levels had been maintained as the company evolved its infrastructure across key sites and invested in the development of new models. With the launch of the enhanced range this year, the workforce can now be scaled back without loss of capacity.
Princess’ ongoing investment programme will see its world-class range develop even further – and a number of new initiatives are under way to secure greater market share and brand recognition.
Princess continues to outperform the yacht industry in the face of unprecedented challenges. Persistent unfavourable euro/sterling exchange rates, recessionary pressures in target markets, and hurricane-force storms in 2014 that caused hundreds of millions of pounds worth of damage across the South West, meant that the company reported a modest loss – £11.3m on turnover of £239.5m – in 2014. (For context, Princess posted a profit of £4.8m in 2013.)
Chris Gates, Managing Director of Princess Yachts, said: “The strategic review of our business and the steps we are taking to improve production at our Plymouth headquarters have laid the foundations for an ambitious year. Our expanded range – with six new models launched in just six months – is the envy of the industry, and our continued commitment to the finest British materials and peerless craftsmanship will always set Princess apart
“We have invested heavily in state-of-the-art facilities and product development while our competitors’ businesses have been contracting, and we are proud of our commitment to Plymouth, having maintained a consistently high level of employment throughout the recessionary period. Princess’ 50th anniversary finds the company starting the year at both the London and Düsseldorf boat shows with new model launches and strong plans for the future.”
Motorboat & Yachting: The Plymouth-based boatbuilder has confirmed that it will be bringing the new Princess 75 to the London Boat Show.
Princess Yachts has announced that it will be bringing the new Princess 75 to the London Boat Show, confirming the leaked information we reported last month.
The Plymouth-based yard explains that its launch is ahead of schedule and that the Princess 75 will replace the 88MY in the line-up heading to the Excel Centre next month (8-17 January).
Performance will be a key selling point, with a choice of three engine set-ups offering an estimated top speed of 35 knots.
Up on the flybridge, owners will find three seats at the helm station, a U-shaped dining area and sunpad aft.
Moving onto the main deck and the unique floor-to-ceiling window on the port side provides a real wow-factor.
Accommodation is provided by three en-suite guest cabins in the bows and an amidships owner’s cabin, which gets its own private staircase.
Other key features include a walk-through bow seating area and sliding glass doors that allow for a seamless flow between the cockpit and saloon.
Motorboat & Yachting: The Princess Yachts fraud trial has got underway at Plymouth Crown Court, with former facilities manager Glyn Thompson in the dock.
The former facilities manager of Princess Yachts has gone on trial at Plymouth Crown Court for defrauding the firm out of more than £1million.
Glyn Thompson, 57 of Peverell, is accused of carrying out a complex Princess Yachts fraud plot via a front company called Construction Solutions South West.
He set up the firm with Darren Tallon, 43 of Plympton, who is also on trial for fraud, the Plymouth Herald reports.
The trial, which began last week, is expected to run until January 2016, but Princess Yachts managing director Chris Gates has already taken the stand to give evidence.
He told the court that Mr Thompson was a “very good manipulator” and admitted that the firm did not apply due diligence when signing off on the contracts he recommended.
Mr Thompson was appointed as facilities manager by Princess Yachts in 2009 after his construction business went bust.
Prosecutor Andrew Maitland claimed in his opening statement that the defendant advised Mr Gates to set a maximum spending limit for work on the South Yard of Devonport Dockyard.
However, when sub-contractors supplied a much lower quote for the job, Construction Solutions South West would “pocket the difference”, the court heard.
It is alleged that the company profited by more than £100,000 from two major projects, as well as many smaller deals between 2010 and 2013. In some cases this amounted to a “50% mark-up”, the prosecution added.
The conspiracy was only uncovered when an innocent supplier tipped off Ian Duffin, former Finance Director of Princess Yachts, via e-mail in July 2013, triggering a police investigation.
Mr Duffin, who has also given evidence, told the court: “There was a huge level of trust between the members of the management team. We respected each other.”
Mr Thompson’s assistant Roger Truen and two other men have already pleaded guilty in the ongoing Princess Yachts fraud case. The trial continues.
Motorboat & Yachting: The Plymouth-based yard has revealed details of the upcoming Princess 49, which will be its first IPS-powered flybridge. The Princess 49 is due for a 2016 launch.
Due to be launched next year, the Princess 49 will be the first flybridge model from the Plymouth yard to come with Volvo Penta’s IPS system.
With 550hp per side, the Princess 49 should be capable of top speed of around 35 knots, the manufacturer added.
Key features include triple sliding cockpit doors and a rear galley that comes fitted with a full-height fridge/freezer, tucked just beneath the flybridge stairs on the starboard side.
Below decks, the three-cabin layout includes a full-beam master suite, forecabin with optional scissor berths, and a twin bunk bed guest cabin to starboard.
Prices and arrival dates are yet to be confirmed, but we wouldn’t be surprised to see the Princess 49 get a public debut at the 2016 London Boat Show (January 8-17).
Motorboat & Yachting: One of the five men accused of defrauding Princess Yachts has pleaded guilty during a hearing at Plymouth Crown Court yesterday.
A former Princess Yachts employee has pleaded guilty to two charges of conspiring to fraud, Plymouth Crown Court heard yesterday (June 18). Roger Truen, 49, of Plymstock lodged his plea to Judge Paul Darlow and will be sentenced before the end of the year, the Plymouth Herald reports.
His four alleged co-conspirators, Glyn Thompson, Michael Honey, Steven Haly and John Tinley have all pleaded not guilty during the court hearing.
Judge Darlow moved to dismiss the case against Mr Haly, but the three remaining men will be tried in November. All five men were given unconditional bail.
The case relates to the men using Construction Solutions South West Ltd as a means to defraud Princess Yachts International by inflating invoices for goods and services undertaken by third-party companies.
The alleged fraud offences, which police have described as “substantial”, took place over a 16-month period between April 1 2012 and August 31 2013, the court heard.
Princess Yachts International is based in Plymouth and builds luxury motor boats measuring between 39ft and 131ft.