Putting into liquidation
The Green Marine shipyard, based in Hythe, United Kingdom, has been put into liquidation. Its disappearance resulted in the loss of 46 jobs. While it was already facing an overall decline in orders for major projects, the failure of a superyacht project precipitated the company's cessation of activity.
A specialist in ocean racing
Green Marine, founded in 1982 in Lymington, moved to Hythe 7 years ago. The yard has built more than 180 boats and specialized in high-tech composite boats, whether offshore racing or superyachts. In particular, the company was the leader of the consortium created with Persico, Décision and Multiplast to manufacture the VOR65 monotypes currently used in the Volvo Ocean Race. It has also delivered IMOCA yachts for the Vendée Globe, such as Alex Thomson's latest Hugo Boss and moulds for the construction of the Banque Populaire d'Armel Le Cléac'h. Finally, Green Marine was involved in the unfortunate British campaign of Land Rover BAR Team and Ben Ainslie for the America's Cup.
Victim of hyperspecialization
Peter Hall, in charge of the voluntary liquidation procedure, explains the situation by Green Marine's hyperspecialisation. "This illustrates the difficulties faced by companies that rely on a small number of very high value projects. It is an extremely moving moment for this very family business, its management and its employees."
