Mustang Marine transforms its fortunes
Fri, 09 January 2015
Mustang Marine, the Pembroke-based builder of workboats and marine renewable energy devices that has transformed its fortunes following fresh investment, is celebrating a flying start to 2015.
Mustang Marine was bought out of administration in May 2014 by a group of nine investors, and has completed a broad range of orders in what was a successful second half of 2014.
Now under a new ownership and management structure, the rejuvenated Pembroke Dock-based firm is actively recruiting skilled workers and apprentices to meet a busy work schedule going into the New Year.
Over the last six months, the rugged, reliable workboat manufacturer, Mustang Marine, has created 12 new jobs, bringing the total workforce to 42 people. The company is looking to recruit a further 18 employees by mid-2015, doubling its original workforce.
Captain Mark Meade, chairman of Mustang Marine, said: “We’re very pleased to see a business known for its excellent workboats meet the initial targets that the new management team set in mid-2014.”
“Our investors recognised that there was a successful core to the business based on a reputation for quality and a proud heritage in marine engineering that stretches back more than 30 years.”
Captain Meade, who is also the managing director of Holyhead Boatyard, added: “Over 90 per cent of the current shareholding in Mustang Marine came from new sources, and together we’ve worked hard to produce a business plan that focuses on sustainable growth and investment in our workforce.
“We’re on course to achieve the objectives we set for our first year, and have ambitious plans for the longer term.”
In 2014, Mustang Marine fulfilled several challenging contracts, including the launch of the 26m offshore support vessel Dart Fisher, and delivery of a tidal energy device that will be tested off Ramsey Sound during 2015.
Steady repair, servicing and maintenance work on the company’s four slipways has also contributed to the company’s success. Current contracts include a new 20m BMT Nigel Gee design wind farm support vessel and a £250,000 multi-purpose workboat fit-out.
Contracts lined up include a range of steel and aluminium workboats for customers in the UK, Europe and Asia, continuing the brand’s tradition of exporting internationally.
Stewart Graves, managing director of Mustang Marine, said: “One of the crucial factors has been the variety of work we’ve seen come in over the last six months. “The excellent workforce that we have been able to maintain have a comprehensive base of marine engineering skills and a depth of experience, which has helped us meet these challenging projects.
“We employ a naval architect, design engineers and skilled fabricators, welders, electricians, shipwrights and fitters. Now we’re about to start recruiting project and design engineers, as well as skilled tradesmen, to meet the programme of work that we have lined up for 2015.”
“We’re also looking into apprenticeship opportunities, and ultimately aim to have an apprentice for each of the skilled trades we employ in our workforce.”
Discover more about Mustang Marine and its offerings at Seawork International in June on stand A269.