Latest news & Events
CNM forms joint venture to drive expansion into China
16 August 2011
CNM reached agreement with First Eastern Investment Group to form a Joint Venture to develop the marina sector in China and Asia. First Eastern will also invest £4.2 million in C&N through the purchase of new shares.
We have already taken steps in what has become the world’s largest growth market for marina development and operation, having recently designed four marinas in China and we are currently working on several other projects including long term management agreements.
This continues the successful expansion of C&N Marinas’ business worldwide, following the operation contract for Yas Marina in Abu Dhabi and the announcement of a partnership with BR Marinas to develop new marinas in Brazil.
The Joint Venture will be called Camper & Nicholsons First Eastern, and it will shortly open its Hong Kong office with Mandarin-speaking staff, to give China-based clients a high level of service. Representative offices will also be established through First Eastern’s network, in Beijing and Shanghai.
Victor Chu, Chairman of First Eastern, commented: “We are delighted to launch our Joint Venture with Camper & Nicholsons in China. C&N is the leader in premium marinas and related real estate around the globe. There is huge demand in China for their outstanding expertise and quality, and we are delighted to be their partners to tap into this fast growing market.”
Nick Maris CEO of C&N said, “Our objective is to give yachtsmen, wherever they are in the world, the same high standards of service, with a local flavour, that they have come to expect from Camper & Nicholsons. Our Joint Venture with First Eastern will lead to some truly outstanding C&N-operated marinas in China and elsewhere in Asia.”
