Cruising yacht builder Buizen Yachts will close its Sydney factory on December 1 and move its manufacturing operations overseas.
Mysiling.com.au reports that the company, which has made yachts at its Terrey Hills facility for 35 years has been approached by international brokers to expand into offshore markets for some time.
Buizen Yachts Director and Proprietor Mr Steve Howe said the Australian market isn’t large enough to sustain the company.
“It was always our intention to grow the Buizen brand internationally, but limits on both the company’s investment capacity and the existing factory’s ability to upscale construction numbers proved a major impediment to entering overseas markets,” he told Mysailing.com.au.
“We have received interest from potential investors who wish to explore a new offshore manufacturing centre for the company and develop international markets”, he added.