Yamaha and Zhangzidao new partnership
Japan based Yamaha Motor Co Ltd, has announced that it will be joining forces with Chinese fishery and marine processing company, Zhangzidao Group Co Ltd, to establish a new company that will manufacture and sell boats designed for the commerical, leisure and aquaculture industries.
There are around 500,000 motorised fishery and work boats operating in China, with an estimated 80% being of wooden construction. With the Chinese Government having laid out its plans to reduce energy consumption and CO2 emissions, it is calling for a switch to Fibre Reinforced Plastic (FRP) boats and outboards.
The new company, Zhangzidao Yamaha (Dalian) FRP Boat Co Ltd, will manufacture and sell FRP work boats and outboard motors, in a bid to address the increase in demand for replacement boats, offering customers reduced operating and maintenance costs.
Once it is registered in March 2013, the company will operate from a 50,000m² factory and office facility in Dalian City, Liaoning Province, China.
Yamaha, which has announced its intention to conduct a global rollout of its marine business, says it is aiming to reach an annual turnover of 300bn Yen (around US$3.5bn), with an estimated capital of approximately 1.2bn Yen (US$13m).
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