RESCUED RIVIERA REVEALS SURPRISE OFFSHORE PLAN

Written on the 29 May 2012

RESCUED RIVIERA REVEALS SURPRISE OFFSHORE PLAN

RIVIERA today announced plans to take partial production of a vessel offshore for the first time in the Coomera-based company’s 32-year history.

In unveiling plans for a new 49-foot enclosed flybridge model, Riviera CEO Wes Moxey (pictured) revealed the luxury yacht will be “tooled” overseas then “built” at Coomera.

Moxey and new Riviera owner Rodney Longhurst are unwavering in their commitment to the company’s Gold Coast base, but say cost savings available in Taiwan have proved too enticing.

Moxey says sending work to Taiwan will result in a “significant saving” in the production costs of Riviera yachts, although he declined to elaborate on the size of any savings.

“It will be well worth our while,” he says.

Moxey says Riviera has a long-term commitment to its boat-building base at Coomera.

“Riviera will stay in Australia for sure," he says.

Longhurst and Moxey took over the beleaguered boatbuilder just under three months ago in a surprise $18 million deal. The company has since sold 16 new vessels at a value of nearly $20 million.

More orders are expected to be generated as the marine world converges on the Gold Coast this weekend for the Sanctuary Cove Boat Show and other events, including an inaugural free “festival’’ at the Riviera boatyard.

This month’s Gold Coast Business News has obtained an exclusive inside story on how the rescue of Riviera was formulated in just nine days.

“The price became right, and Wes and I decided to have a crack at this, and we did,” says Longhurst.

“It was a mixture of anxiety and relief after we did the deal, a whole range of emotions. The important thing is that Wes and I understand each other, we can sit in a room and make decisions by ourselves.

“There is no board, no bank, no presentations to go through. It allows us an agility that Riviera has never had before.”

Read the revealing Riviera rescue story only in Gold Coast Business News, on sale now.


Latest News

PETER BEATTIE: WE CAN TURN A $1B 'PROFIT' ON COMMONWEALTH GAMES IF BUSINESS GETS ON BOARD

PLAYING host to a major sporting event is often regarded as a guaranteed way to lose money, but the 'face'...

SUPERLOOP BREAKS NEW GROUND TO LAUNCH LATEST FIBRE NETWORK

SUPERLOOP'S already vast fibre cable network just got bigger through the addition of TKO Express, the only fib...

SA GOVERNMENT APPOINTS ESCAPENET TO DELIVER ULTRA HIGH-SPEED INTERNET

THE South Australian government has appointed Adelaide business EscapeNet to deliver a $7.6 million ultra high-spe...

CAIRNS COUPLE DIVE INTO THE SHARK TANK AND CONVINCE FELLOW 'BOATIE' GLEN RICHARDS TO WORK WITH THEM

THEY'RE a husband and wife team with an invention that can help save the Great Barrier Reef, and lives, and Pe...

Related News

CAIRNS COUPLE DIVE INTO THE SHARK TANK AND CONVINCE FELLOW 'BOATIE' GLEN RICHARDS TO WORK WITH THEM

THEY'RE a husband and wife team with an invention that can help save the Great Barrier Reef, and lives, and Pe...

DOWNER EDI GRABS MORE THAN 50 PER CENT STAKE IN HOSTILE TAKEOVER TARGET SPOTLESS

DOWNER EDI Limited (ASX: DOW) now holds more than 50 per cent of Spotless Group Holdings Limited's (ASX: SPO) sha...

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter