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Media Release
21 January 2010
Iconic Brand Cresta Motor Yachts Builds Boats for the Recovery
Iconic Australian Motor Yachting brand, Cresta Motor Yachts Limited is pleased to provide an updated progress
report on the three new and innovative class leading luxury motor yachts, with the construction team having
completed fairing the hull plug and have now begun to apply topcoats to the vessel. This is the final stage before
commencing the moulding process, which demonstrates significant progress for the vessels.
The Company is positioning itself to support new sales in the coming months, as Cresta believes there will be a
significant uptake of new vessels, following the improvement of global financial markets and as the recovery
returns to full swing in 2011. Cresta’s point of difference to other premium motor yacht companies is that the
Company has developed a production process that enables Cresta to manufacture a high quality motor yacht at a
much lower price point than their Australian and International competitors.
The recent Melbourne to Hobart Yacht race highlighted the premium quality of boat building in China, with the
latest yacht built, in the Weihai shipyard facility participating in the prestigious race and winning three First Places
in the IRC Handicap division.
The innovative architecture of the new range of yachts resulted from three years of research and preparation by
internationally recognised naval architects and the renowned Cresta team. This has ensured that the new vessels
can take full advantage of the latest technology, in both engine propulsion and construction materials. With
industry best practice in mind, the vessels have been designed in cooperation with the world’s major engine
manufacturers and their naval architects, to ensure compatibility with the latest technology from those vendors.
In commenting on the Company’s recent achievements, Adrian Ballintine, Chairman said,
“It is a very exciting time for Cresta as the work of the naval architects begins to take shape in a physical form. The
high standard of the design and computations made available to the production team by the vessels’ architects has
facilitated for a very smooth and efficient approach to the boat building process.”
Cresta Motor Yachts has listed with the Australian Small Scale Offerings Board (ASSOB) to raise capital to fund the
further expansion of the business. The offer is open to sophisticated investors.
For further information contact Rod North, Bourse Communications, on (03) 9510 8309 or 0408 670 706.
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