The Finnish brand, which was once highly regarded and appreciated for its timeless performance cruisers, is apparently facing a new start. After Finngulf had to give up its actual shipyard operations in 2010 and file for insolvency in autumn 2011, a group of Estonian and Swedish shareholders is now taking over.
In an initial statement on the acquisition today, they wrote: "We will ensure that Finngulf's manufacturing continues with the same values and premium quality that owners have come to expect from the brand."
At the centre of the consortium is Markku Allen, an entrepreneur who has his own production facilities near Tallinn. But also involved are Tresfjord a former Norwegian, now Swedish motorboat brand, and Castello Boats from Finland.
According to information from negotiating circles, the partners have not taken over the entire Finngulf portfolio, but the core, which is based entirely on designs by constructor Karl Johan Strahlmann is based. It includes the Finngulf 331, 37, 41 and 46, while the Finngulf 43 designed by Farr Yacht Design and the smaller 28E by Strahlmann will not be continued.
In future, the company will operate under the name Finngulf Tresfjord AB. Production is to be set up in Estonia, where Finngulf's smaller units have already been manufactured. To facilitate the new start, parts of the old workforce will be involved. Stig Nordblad the founder of Finngulf, was also asked if he would like to join the team, but the 65-year-old declined. He told YACHT online: "I've already had enough to do with building up Saare, and at my age it's actually time to take a step back." However, he has confidence in the new partners and wishes them success.
It is due to start again in autumn 2013. The German market also plays a not insignificant role, as Finngulf had a loyal owner base here in the 1980s and 1990s. Jürgen Jacobs from Sierksdorf, dealer for Germany until two years ago, would be "definitely interested" in a continuation. However, there have not yet been any talks.
Jochen Rieker
Herausgeber YACHT
