Sessa Marine opens up in Brazil...

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Sessa Marine opens up in Brazil...

Industry News

The Italian motorboat builder is establishing a new production and distribution company to cater to South and Central American markets.

APRIL 2011

This week at the 2011 Rio de Janeiro Boat Show (April 27-May 2) Sessa Marine will announce the establishment of a new company, Sessa Marine Brasil, which will be based in the southern industrial district of São José, which is in the Santa Catarina State.
Sessa Marine Brasil will produce vessels under 50ft (15m), which are more suitable for local markets, in its own 10,000m² (107,584ft²) facility. The new yard will initially produce the Key Largo 27, 30, 34, 36, and the ‘Cruiser Line C32, C35 and C38 models.
The new company will be managed by Luis Neto, an experienced workboat and military-vessel builder.
“Yachting is becoming more and more appealing in the land of ‘green and gold’,” says says Sessa Marine president Massimo Radice. “It has been growing at an average rate of 15 per cent annually in recent years... But there are some barriers to entry, which is why we need to have our own production operation in the country. The Brazilian government has established a protectionist system of taxation and customs duties that privilege the domestic industry... It is very difficult to import vessels under 50ft (15m)... We decided to work with Luis Neto because he comes from in a field which is not in competition... The synergy between commercial boating and yachts will offer benefits for both groups.”
With its four-line portfolio that spans 5.5-20.7m (18-68ft), family-owned company Sessa Marine’s turnover peaked in ’08 at €66 million, when its EBITDA (earnings before interest, taxation, depreciation and amorization) reached €4.8 million. Because of the global financial crisis sales in ’09 dropped by 35 per cent to €47 million; the EBITDA for the period was €1 million. In ’10 sales rose 11 per cent to €47 million and EBITDA increased to €2 million. This year’s forecast is €57 million sales and €4 million EBITDA.
Sessa Marine has a strong international presence – more than 90 dealers in 32 countries. Exports account for around 70 per vent of its total sales.
Since the company started in ’58, Sessa Marine has built over 15,000 boats.

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© Phil Draper