Australian yard SilverYachts has been acquired by Chinese aluminum manufacturer, Zhongwang.
The deal was concluded in Beijing and announced on October 26. A new yard will be opened in China for building both commercial vessels and pleasure yachts.
Guido Krass, founder of SilverYachts, said, “Having Zhongwang on board will allow us to continue to create and build innovative aluminum superyachts for the world market.”
China Zhongwang is the second world's largest produces of industrial aluminum. "We are delighted to join hands with SilverYachts to navigate the high-end marine sector at full speed", said China Zhongwang CEO, Lu Changqing.
Daily operations for SilverYachts will remain unchanged. The yard's 150 employees are currently at work developing the 85m motor yacht Silver Loft.