Astilleros Astondoa Acquires Faeton Yachts

Faeton Yachts, one of the leading Spanish pleasure craft shipyards and the biggest in the Andalusian Autonomous Region has been bought up by Astilleros Astondoa, the largest national shipbuilder of luxury yachts and cabin cruisers.

Faeton Yachts is specialised in the construction of sports fishing-sailing boats with lengths from 8 to 12 metres. It has an excellent range and brand of recognised prestige obtained after 20 years of work.

Astilleros Astondoa also builds boats from 12 to 60 metres in length and is one of the largest pleasure craft shipbuilders in Spain and among the first in Europe. All of this achieved after 92 years of faultless experience as a family enterprise and brand of great prestige and quality. Between these two companies they have built more than 6,000 boats of all types of lengths throughout their history.

The acquisition of Faeton Yachts makes Grupo Astondoa one of the largest pleasure craft shipbuilders in Spain and one of the leading ones in Europe, for its prestige, quality, range and dealer's network. The strong capitalisation of Astondoa, its huge experience in developing new products, its great commitment with quality and investment in R&D and its powerful management team guarantees competitiveness and the successful development of Faeton Yachts at difficult times for the nautical industry, as consequence of the international economic crisis.

With this purchase, Grupo Astondoa will count on 5 production plants strategically distributed throughout the Spanish geography, in Santa Pola (Alicante), Almansa (Albacete), Gador (Almería), Gallarta (Vizcaya) and Vigo (Galicia), a total of more than 200,000 m² of installations and 600 employees performing a highly specialised work.

Faeton Yachts had a turnover of almost 19 million euros, with a payroll of 165 workers and built more than 200 boats. Its exports were more than 40%, mainly to countries in the Mediterranean circle.

Faeton Yachts also has modern facilities today at Gador (Almeria), an important human capital and a good national and international after-sales service and distribution network, integrated by leading Nautical Companies in its area of influence.

For all this and with this acquisition Grupo Astondoa is consolidated as leader in the recreational yacht market and as the pleasure craft shipyard with the widest range of models throughout the world.

In its desire for continuity and follow-up, Grupo Astondoa hopes to consolidate the leadership of Faeton in its nautical segment, contributing in the expansion of models, improvement in quality and development of new initiatives.

Source: Astilleros Astondoa