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New Chinese investor joins SilverYachts

Written by
Charl van Rooy

Australian shipyard SilverYacht’s Founder Guido Krass together with designer Espen Oeino today announced the strategic partnership with China Zhongwang Holding Limited, making the Chinese firm the new majority shareholder of the Perth-based yacht builder. China Zhongwang operates as the world’s second-largest aluminium manufacturer in the world and the largest in Asia.

Silver Yachts - Press release

The partnership with China Zhongwang marks the start of an exciting new era for SilverYachts,” said Guido Krass. founder of SilverYachts. “Having China Zhongwang on board will allow us to continue to create and build innovative aluminium superyachts for the world market.

Krass continued to mention plans of expanding the SilverYachts team both in Australia and China. Part of the strategy will be the establishment of an additional shipyard in China to build superyachts as well as commercial vessel customized for a growing Asian market according to SilverYachts.

Day-to-day operations for SilverYachts will remain unchanged and Managing Director Dave Woods continues to lead the brand’s development. The shipyard’s 150 employees are currently hard at work on the 85-metre world explorer motor yacht Silver Loft that is nearing completion.

We are delighted to join hands with SilverYachts to navigate the high-end marine sector at full speed,” Mr. Lu Changqing, said President and Executive Director of China Zhongwang. “The acquisition is a significant step for China Zhongwang to become an active player in the high-end marine segment, and adds considerably to our international expansion.

Photo by Guillaume Plisson for Airbus Helicopters