Belfast Telegraph

£100,000 boost will put wind in the sales of GulfStream Marine

By Amanda Poole

A CO Londonderry marine business is set to expand by investing over £100,000 to boost sales in the global export market.

GulfStream Marine at Springtown in Derry said it hoped to drive export sales of its leisure craft and technical services to over 50% of its turnover. The project will create four new jobs over the next two years. The announcement follows the news that Derry will be a stopover point for the Clipper Round the World Yacht race in 2012. Invest Northern Ireland is providing £24,000 assistance for the project.

Des Gartland, manager of Invest NI’s north west regional office, said: “The leisure craft industry particularly in Great Britain is currently worth around £3bn annually. This investment will help GulfStream Marine to build on its existing business there, by developing the |significant opportunities it has identified for its expertise through more intensive marketing activities in the growth sectors of leisure and professional craft.

“This investment reflects our commitment to encouraging and facilitating the growth of ambitious companies which offer innovative products and services to markets outside Northern Ireland. The investment will support the development of Derry as a centre of excellence in the UK and Ireland for small marine craft,” he added.

Niall Heaney, GulfStream Marine managing director, said: “Since 2006 we have experienced significant growth, and been successful in developing a wide portfolio of products and services, including the sale of leisure craft throughout the UK and Ireland. We have underpinned this offering by securing a number of key dealerships, from the industry’s leading manufacturers, of marine engines and equipment, including Mercury, Mercruiser, Volvo Penta, and Cummins Marine Diesel.

“Our growth strategy is focused on capitalising on our engineering expertise to deliver our repair and maintenance, and craft customisation services to customers throughout Ireland and the UK. We are realising plans to develop a global reach for our equipment offering through our new e-commerce site. These activities have already taken our export sales to around 45% of turnover. With Invest NI’s marketing assistance we will be able to further develop and secure our export sales.”

Belfast Telegraph