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Hanse Yachts plans stockmarket flotation for 2006

Germany's second-largest production sailing cruiser operation Hanse Yachts is planning a stockmarket flotation later this year.

"The funds raised will allow the company to diversify, not only with new product lines, but also by acquisition," says CEO Michael Schmidt, "maybe of complementary sailboat brands or by a powerboat operation. Or maybe both, it depends on what we can find."

The Greifswald-headquartered company embarked on a motorboat project recently with Fjord Boats owner Morten Nordvold. It begun building the traditional Fjord Terne range on a contract basis, but it is also co-developing a new line of Fjord-branded motorcruisers designed by Patrick Benfield, who designed the Wally Tender, and Mark Tacker.

The first new Fjord, a 38, will go in the water for September 2006. It will be followed by a 34 by the end of the year and a 44 in 2007. Over the next five years the Fjord line-up should swell to 10-15 models from 6.4m-19.8m (21ft-65ft).

Michael Schmidt says Hanse will be looking to acquire more complementary brands and builders once it has floated, which is expected to happen around October this year.

"Within five years I hope to see Hanse among the top 10 motorboat players in Europe," he said.

Hanse Yachts currently employs around 380 people at the main facility in Greifswald on Germany's Baltic coast, and another 25 at a moulding facility in Golenow, Szczecin, Poland.
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