- Yacht News
-
by Avasta
Family-owned Balk Shipyard has operated for over 220 years
By
APB Staff
| 12 January 2022
Hong Kong-based investment company Zhongying International has acquired Balk Shipyard, a Dutch, family-owned shipbuilder that specialises in refits and rebuilds.
“This is game-changing not only for Balk Shipyard and our wider nautical family, but also across the superyacht industry at large,” the shipbuilder said in a statement.
The builder has not yet confirmed financial details of the takeover, but says on its website it is in now a “stronger position than ever to deliver our world-class shipping expertise to the global superyacht market.”
The family-owned Balk Shipyard, which is located within an hour of Amsterdam, has operated for over 220 years.
“The timing could not be better,” the company says. “The superyacht industry is experiencing exponential growth, and all is flux and change. This is the perfect moment for Balk Shipyard to establish ourselves as one of the leading luxury yachting companies in the world.”
Balk adds that Zhongying’s investment “gives us significant leverage to take on bigger shipbuilding projects than ever before, with zero compromise on quality and innovation.”
Zhongchang International Holdings Group Limited, formerly Henry Group Holdings Limited, is a Hong Kong-based investment holding company principally engaged in the investment, development and leasing of properties, according to Reuters. It mainly invests in Ginza-style buildings, residential properties and street shops in Hong Kong.
