Grand Banks Yachts Sdn Bhd
| Public | |
| Traded as | GBY:SP |
| ISIN | 🆔 |
| Industry | Yacht Building |
| Founded 📆 | 1957 in Hong Kong |
| Founder 👔 | |
| Headquarters 🏙️ | Singapore & Malaysia |
Area served 🗺️ | |
| Products 📟 | Yachts |
| Members | |
Number of employees | |
| 🌐 Website | Official Website |
| 📇 Address | |
| 📞 telephone | |
Grand Banks Yachts is a luxury yacht manufacturing company based out of Malaysia, and listed on the Singapore Stock Exchange as Grand Banks Yachts Ltd. (GBY:SP)[1]
Grand Banks Yachts began as American Marine[2], established by Robert J. Newton and his two sons John and Whit Newton. They are regarded as influential in making recreational trawler-style yachts iconic[3]. In 2014 Grand Banks Yachts acquired a 100% ownership stake in Australian luxury yacht builders Palm Beach Motor Yachts, acquiring its CEO Mark Richards, skipper of 8 times line honours Sydney to Hobart winning SuperMaxi Wild Oats XI, to run the enlarged company group[4].
History[edit]
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The original shipyard in 1956 was located on a small section of waterfront[5] in Kowloon, Hong Kong. Hong Kong was at that time a British Colony. Their first boat was launched in 1957 after 6 months of building, and Robert's other son Whit joined his brother and father, and they established American Marine Ltd building heavy sailboats and large motor-yachts for some of the world's top marine architects including Sparkman & Stephens, William Garden, Nat Herreshoff, Ray Hunt and others[6][7].
In 1962, American Marine commissioned their own design through naval architect Ken Smith[8], a 36 foot trawler named Spray that would lead into the future design of the Grand Banks 36[9]. Within 1 year of launching Spray, American Marine ceased custom building to focus on their new 8-knot wooden cruiser, and over the next few years expanded the Grand Banks fleet to include the GB32, GB42, GB48, GB50, GB57 and GB62. The shipyard moved from Singapore in 1995[10] and now trades out of a factory in Johor Bahru[11], Malaysia with corporate offices in Singapore.
Redirection[edit]
Upon its acquisition of Palm Beach and appointment of new CEO Mark Richards, the shipyard in Pasir Gudang, Johor Bahru, underwent substantial refitting and development and Grand Banks moved from its previous dealership sales distribution network to a factory direct sales model[12]. The company ceased production of its line of legacy models to focus on developing more efficient and modern designs using new technology and production methods utilising carbon fiber, resin infusion and multi-axis CNC. Grand Banks is due to unveil its new flagship Grand Banks 60 in 2017 to commemorate the company's 60th anniversary.
References[edit]
- ↑ "GBY:Singapore Stock Quote - Grand Banks Yachts Ltd". Bloomberg.com. Retrieved 2017-03-06.
- ↑ "Grand Banks Yachts - Company Information". grandbanks.com. Retrieved 2017-03-06.
- ↑ "Top 15 Trawlers". Yachting Magazine. Retrieved 2017-03-06.
- ↑ "Grand Banks to Acquire 2nd Brand". Yachting Magazine. Retrieved 2017-03-26.
- ↑ "American Marine Ltd boatyard, Junk Bay – great photographs – The Industrial History of Hong Kong Group". industrialhistoryhk.org. Retrieved 2017-03-06.
- ↑ "The Making Of a Grand Banks | | PassageMaker". www.passagemaker.com. Retrieved 2017-03-06.
- ↑ "Oh Wooden Aye". www.powerandmotoryacht.com. Retrieved 2017-03-07.
- ↑ MotorBoating. 2017-03-06. Search this book on
- ↑ Boating. 1973-08-01. Search this book on
- ↑ "The Making Of a Grand Banks | | PassageMaker". www.passagemaker.com. Retrieved 2017-03-06.
- ↑ ShareInvestor. "Grand Banks Yachts: Renewal Of 30-Year Lease At Pasir Gudang Industrial Area For S$6.2 Million. - ShareInvestor.com". www.shareinvestor.com. Retrieved 2017-03-06.
- ↑ "Grand Banks Yachts Annual Report 2016" (PDF). Annual Report. October 11, 2016. Retrieved March 26, 2017.
sources updated, information verified[edit]
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