Grand Banks Yachts has completed the expansion of its Pasir Gudang, Malaysia composite manufacturing plant after 18 months of work.
The facility is now nearly 700,000 sq ft, after undergoing a 25% expansion in space. The yard is in one of the nine flagship zones in the Johor-Singapore Special Economic Zone.
The expanded facility now allows Grand Banks to have greater control over every stage of production including composite manufacturing. It is equipped with onsite 8-axis rotor robotics, a testing pool and engineering labs.
The group says that this will allow it to build bigger yachts with greater precision, craftsmanship and efficiency while shortening delivery times.
Grand Banks Yachts had a net order book of $109.8 million as at Dec 31, 2024.
“The expansion is a critical part of our strategy to improve quality, internal efficiencies and generate economies of scale. The enhancements in technology and processes will further strengthen our business foundation to better serve customers and add long-term value to our shareholders,” says chairman Basil Chan.
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Shares in Grand Banks Yachts closed flat at 53 cents on March 4.
