The owner of Discovery Shipyard has invested £2 million in it

The owner of Discovery Shipyard has invested £2 million in it

Amount is used for capital expenditure and development of new projects

Werner Schnaebele, majority shareholder and owner of British sailing shipyard Discovery , has invested£2 million in the company. This money will be used exclusively to cover capital expenditure and fund development projects, including the new Bluewater 50 Catamaran Mk III and the single-hull Southerly 42 with lifting keel.

«In 2020, many companies in our sector were feeling uncertain due to the negative impact of the pandemic virus on familiar processes. So I'm happy that we've received additional funding. It's a very inspiring start to 2021 for Discovery. People are showing a steady interest in all our boats and are even getting more familiar with them. The employees and customers at Discovery can now look forward to the future with a great deal of confidence»," said John Burnie, Managing Director of Discovery and Binti Marine.

Discovery was in financial difficulty even before the pandemic. The company was ordered by the court to pay more than £1 million to the owner of a new yacht, which was found to have serious design flaws in 2017. In early 2020, a new holding company was formed and Discovery was restructured.

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