Chinese investor acquires majority stake in SilverYachts

Australian shipyard SilverYachts has announced a strategic partnership with China Zhongwang Holdings, making the Chinese firm the new majority stakeholder of the Perth-based yacht builder. The amount paid by China Zhongwang, the world’s second largest aluminium manufacturer, remains undisclosed.

The deal is of significant benefit to both parties, as SilverYachts look to establish an additional shipyard in China to build superyachts for the Asian market and China Zhongwang hopes to expand its presence in the high-end marine sector.

Guido Krass, founder of SilverYachts, commented, “The partnership with China Zhongwang marks the start of an exciting new era for SilverYachts. Having China Zhongwang on board will allow us to continue to create and build innovative aluminium superyachts for the world market.” 

The day-to-day running of SilverYachts will remain unchanged and managing director Dave Woods continues to lead the brand’s development.

Mr. Lu Changqing, president and executive director of China Zhongwang, said, “We are delighted to join hands with SilverYachts to navigate the high-end marine sector at full speed. The acquisition is a significant step for China Zhongwang to become an active player in the high-end marine segment, and adds considerably to our international expansion.” 

Meanwhile, SilverYachts is currently hard at work building the 85m Silver Loft, an 85m world-explorer motor yacht.

For more information, visit SilverYachts and China Zhongwang.


Yachting News
March 12, 2021
Tried & Tested: Best Yacht Crew Polo Shirts
Tried & Tested: Best Yacht Crew Polo Shirts

In this Tried & Tested, yacht bedding specialist Sea Design conducts a review into the best duvets, quilts and pillows on the market. It tests a series of leading products to work out the best yacht bedding money can buy.

By Nathan Bees
January 21, 2021
Tried & Tested: Best Yacht Cleaning Products
Tried & Tested: Best Yacht Cleaning Products

In this Tried & Tested, yacht cleaning expert Marine 16 Ltd and cleaning expert Judith Shaw rate and review some of the best cleaning products available to buy. Find out which product was crowned the best following rigorous testing.

By Yachting Pages
January 13, 2021
Tried & Tested: Best Water Toys
Tried & Tested: Best Water Toys

In our brand new Tried & Tested, yacht water toy specialist EAMS and a group of experienced superyacht captains and crew rate and review the very best luxury water toys on the market. Find out which brand and product was crowned the best...

By Nathan Bees

Finished reading? Now find your perfect supplier.

Search our industry-leading directory for over 20,000 superyacht suppliers, providers and marinas.

Search now