28 July 2004

Major yacht build contract for Devonport Yachts

DML is pleased to announce that its specialist unit Devonport Yachts has been chosen to design and build an 80 metre superyacht. This substantial contract was awarded to Devonport Yachts against stiff competition from other established international superyacht design and construction yards. It represents a valuable addition to Devonport's growing yacht build, conversion and restoration portfolio, as part of which there are currently two large superyachts under construction at Devonport.

This further yacht will feature an aluminium superstructure and a steel hull. The aluminium work will be carried out in DML's fabrication workshop at Devonport and the hull will be constructed in DML Group's Appledore facility and will require re-engagement of an appropriate cross section of industrial employees.

DML's Chief Executive Dennis Gilbert said today, "This is really excellent news for the DML Group. As well as a significant package of work for Devonport the project will provide the start we have been working hard to achieve for our Appledore facility in North Devon."

Design work for the yacht will begin immediately, providing work for the 40 plus Design Engineers already employed at Appledore. The hull build will commence towards the end of this year and will employ up to 100 construction staff for approximately 12 months.