PRESS RELEASE
Platinum SuperYachts Sets Sail with first Acquisition
Custom built luxury mega-yachts sales & marketing company
acquired.
Fort Lauderdale, Florida (Business Wire).
August 27, 2003. PLATINUM SUPERYACHTS INC. (OTCBB: PSUY) announced
today asset
acquisition of PR Marine, Inc., a Florida Corporation. By closing
this transaction, Platinum Superyachts has acquired a sales
and marketing organization with established brand experience
in the mega-yacht industry. PR Marine is renowned throughout
the world for superior quality and aerodynamic designs in mega-yacht
construction. Visit (www.pr-marine.com).
The Company was renamed “PLATINUM SUPERYACHTS, INC.” to
reflect the new direction of its business activities, which
will include sales and charters of mega-yachts 75 feet and
above as well as complete construction of new model mega-yachts.
With this acquisition the company has the control over a recognizable
brand name, logos, designs, layout and interior plans, and
technical specifications for mega-yachts ranging from 75 to
over 140 feet. In addition PSUY inherits a worldwide office
network and client base, established relationships with leading
yacht brokers, designers, and preferred building slots with
shipyards.
In conjunction with the acquisition
of the assets of PR Marine Inc., Platinum Superyachts has
restructured its board of Directors.
Mr. James N Rodgers and Mr. Edwin Austin have resigned and
Mr. Ron Ruskowsky has been appointed President & CEO while
Mr. Shahhid Vohra now assumes the duties of Vice President
of the Company.
Mr . Ruskowsky has a strong background in corporate structure,
management and finance in both the private and public sectors
with more than 16 years in executive positions. He will be
involved in all aspects of PSUY from marketing to finance and
acquisitions.
Mr. Shahid Vohra, has 15 years experience in the international
yachting industry where he has achieved recognition for sales
in excess of US $50 Million of PR Marine Yachts. Mr. Vohra
is an international figure in the yachting fraternity and resides
in Fort Lauderdale, the capital of the yachting industry. He
has personally arranged sales of PR Marine yachts to Royalty,
Sheikhs, The President of Maldives, and a number of high net-worth
individuals from Canada, Europe, and the USA. Mr. Vohra will
oversee global sales and marketing, intending to build name
brand recognition for Platinum Superyachts.
PSUY has negotiated preferential building
slots with shipyards in Europe and Canada enabling the Company
to facilitate deliveries
of 100' yachts with custom built interiors in six months as
opposed to normal 24–36 month waiting periods.
Mr. Ruskowsky stated, “The voyage
of Platinum SuperYachts is clearly mapped out starting with
this acquisition of one
of the most famous yachting names in the business. Our management
team is world renowned with high level contacts throughout
the world. By being a publicly traded company Platinum believes
that it can attract institutional funding, allowing the Company
to acquire additional mega-yacht builders on both sides of
the Atlantic and to offer customers custom delivery in months,
rather than waiting years for construction and delivery at
other builders.”
Worldwide market demand for mega-yachts is currently exploding
with approximately 425 yachts in excess of 80 feet under construction,
a 35% increase in orders over last year. Within the industry,
the larger custom yachts have experienced highest percentage
of growth. European yacht builders have nearly 60% of the new
orders compared to only 30% in the U.S. Platinum Superyachts
intends to gain ground by using less expensive labor in Canada
and by working very closely with some of the leading yacht
brokers based in the boating capital of the world - Fort Lauderdale,
Florida.
Statements included in this press release that are not historical
in nature are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act
of 1995. The Company cautions readers that forward-looking
statements are subject to certain risks and uncertainties,
which could cause actual results to differ materially and
which are identified from time to time in the Company's reports
filed with the U.S. Securities and Exchange Commission. Platinum
SuperYachts, Inc. claims the protection of the Safe Harbor
for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.
For more information, visit PSUY's web site at www.platinumsuperyachts.com . Information included on the Company's website is not incorporated
herein by reference or otherwise.
Shareholder and Public Relations
Contact: Henry Harrison
Harrison, Elliott & Brown, L.L.C.
407-862-5151
|
