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Article: Sale may bring 'significant' investment and jobs to city ; The takeover of luxury boatbuilder Princess Yachts has been hailed as 'excellent news for Plymouth'.

Article from:
Plymouth Evening Herald, The
Article date:
June 4, 2008
Author:
Copyright

The takeover of luxury boatbuilder Princess Yachts has been hailed as 'excellent news for Plymouth'.

Chris Gates, operations director of the Stonehouse-based firm, and business experts in the city welcomed yesterday's news that a French firm was buying the company in a deal which values it at around pounds200million.

Mr Gates said the city should benefit from new jobs and 'significant investment in the economy' when L Capital 2 FCPR took over the manufacturing business in the near future.

No jobs would go, he said, and there would instead be growth in as a result of L Capital's takeover.

He confirmed that Princess Yachts had no plans to leave Plymouth, with expansion projects in the city on ...

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