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.


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