Tuesday, July 16, 2024
HomeNewsSAY Carbon Yachts relaunches after insolvency

SAY Carbon Yachts relaunches after insolvency

SAY Carbon Yachts GmbH has relaunched under new ownership after a challenging period and insolvency.

The German boat builder filed for insolvency in January 2024 due to a slower than expected growth in sales following an investment to expand SAY boat models.

The company says that now with new leadership and a fresh breeze in its sails, long-term stability and security can be ensured.

And the boatbuilder says it looks forward to a promising future.

“Our priority remains to produce high-quality yachts and provide first-class service that our customers can rely on,” said a company spokesperson.

“The passion for high-quality yacht manufacturing and the commitment to innovation were the driving forces behind this relaunch. The company aims to strengthen its position as a leading provider of carbon fibre yachts and to continue growing.”

The core team will remain with the boatbuilder, and Germany will remain as the company’s location.

Our priority remains to produce high-quality yachts and provide first-class service.

The continuity will allow SAY Carbon Yachts to maintain and further improve the high quality and precision for which it is known.

“With renewed energy and a clear vision, the team looks forward to exploring new paths and celebrating new successes – such as the launch of new models,” added the spokesperson.

The planned expansion of the product range will enable SAY Carbon Yachts to better meet the individual wishes and needs of their customers.

SAY Carbon Yachts was founded in 2006 and initially built sailboats and RIBS focusing on lightweight design using carbon fibre materials before pivoting to luxury yachts.

In 2014, Karl Wagner, who founded the Austrian-based Carbo Tech Composites GmbH, invested into SAY and subsequently brought additional investors into the company.

In 2023, SAY announced the development of three new models including the SAY 32, SAY 42

Outboard and SAY 52 Open, building upon consumer tastes and plans to expand into the American market.

Despite the rapid growth and positive market response to the products, the recent economic crisis took its toll and in 2023 the boatbuilder’s annual turnover shrunk to €4,63 million.

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