Financial future safe and UK dealer positive
The future of Australia’s second largest luxury boat builder, Mustang Marine, was secured last night after a purchase arrangement was finalised with the Asian-based Principal Trading arm of South African financial institution, Standard Bank.
Standard Bank personnel will spend time interacting with Mustang staff, dealers, customers, and local and international suppliers as the brand is revamped and rebuilt.
The announcement ends 10 weeks of speculation after the industry icon was sent into receivership by its credit provider, the National Australia Bank.
The UK Mustang distributor, Wittey Marine, will continue to offer the Mustang range from its Hamble Point offices and will seek to expand its dealerships throughout the UK.
John Wittey commented: “It has been an uncertain period for the Mustang brand but we are delighted we are now back on course and able to bring these superb value power cruisers to the UK boating public. We will have full details of the range available on our London Boat Show stand (N037A) where we will be taking bookings for Mustang Living events. The next UK appearance of Mustang will be at the NEC in February.”
Mustang Marine produces a range of Sports Cruiser and Sports Flybridge vessels.
Wittey Marine are on stand NO37 at the Collins Stewart London Boat Show.
Contact: Wittey Marine
Tel: 44 (0)1844 344723