Elan refuses to manufacture motor yachts.

Elan refuses to manufacture motor yachts.

The Slovaks are struggling with a crisis

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A Slovak sailing and motor yacht manufacturer announces its plans to return to normal business in May. The company now has a temporary administration.

However, for this purpose, the management of the company, headed by Robert Ferko, has decided to sell one of its shipyards, which has been building motor yachts in Obrovic, Croatia.

Ferco also plans to attract significant investments from interested business circles from Germany, the USA and the Middle East. Negotiations on this are currently underway. The Slovak yacht builder expects to invest the raised funds in the launch of a number of new models.

In 2009, the company's revenue decreased by 10% compared to 2008 to 92 million euros. Sales of the company's motor yachts fell by more than 60%. The company was forced to make a significant reduction in its staff and workers. As a result, a decision was made to sell the motor yacht division.

The main markets for the company are Slovakia, Croatia and Italy. Turkey and the Middle East are emerging markets. Ferko is confident in stabilizing the market by 2013 and plans to return the lost market positions to the company by that time.

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