Canterbury Export a boost for Chch boat builders

Press, 13 July 1985, Page 23

Canterbury Export a boost for Chch boat builders

By

KEVIN TUTTY

This week-end a sleek, attractive lady from Christchurch will begin a series of appearances in England which could ultimately earn millions of export dollars. The lady is Canterbury Export, built by Canterbury Marine Export, Ltd. This week Canterbury Export will start in the One Ton Cup series off Poole in southern England, a warmup series for the Admiral’s Cup competition later in the month. Since its launching last December the yacht has dramatically exceeded the expectations of its owners. Canterbury Export (it will have to drop the Export from its title in England because sponsorship names are not permitted in the Admiral’s Cup) was built as a test yacht for the company, whose purpose is to build and export yachts. What started as a commercial venture has developed into a sporting saga. It has slowed the development of the company, but should Canterbury Export perform creditably in the two series, interest in the company’s product is sure to be intensified. Canterbury Marine Export, Ltd, had its origins in a personal project of its managing director, Mr Clyde Collins, who set about building himself a yacht, Knightrider. Problems with construction meant the yacht would cost half as much again as he had estimated, and construction time, would be twice as long.

Mr Collins parted company with the firm building the yacht and was approached by Mr Ric Keeling, who had sold a share in another yacht, but wanted to retain an interest in the sport. They agreed to become partners and complete the construction of Knightrider. That was two years ago. It was from this partnership that Canterbury Marine Export grew, as Mr Collins said, “almost by accident.” Word of the company filtered overseas and an American in Seattle, Peter Rachtman, who specialises in marketing New Zealand products in the American northwest, agreed to assist the fledgling company. Knightrider was on the water only four times before it was sold in Seattle. Mr Rachtman was convinced there was a market for New Zealand yachts in and around Seattle, even though they would be competing against French, Taiwanese and American builders. Canterbury Marine Export, Ltd, believes its product will

sell because it has more to offer. “What we are selling is an 1.0. R. (international ocean racing) boat in two forms. It can be used for racing or it can be used just as readily for holiday cruising,” said Mr Collins. Mr Keeling was convinced, too, after visiting Seattle. “By taking a little more care with detail at this end we can product a yacht that will stand up to ocean racing and be a top performer in those conditions. Alternatively, it is attractive enough to convert to cruising for the family,” said Mr Keeling. The company decided it would produce a lightweight racing yacht and use the Admiral’s Cup trials in Auckland last March as a proving ground. Canterbury Export was the trial yacht. The decision to build it was made in October last year and four and a half months later it was on the water. Canterbury Export finished second in the trials and was named in the Admiral’s Cup team with Exador and Epic Lass.

The yacht is considered the strongest of the New Zealand team because of the light conditions that prevail off Cowes, where the Admiral’s Cup will be decided. The final race in the Admiral’s Cup series is an ocean race to the Fastnet Rock, off the southern coast of Ireland, and return. In 1978 a storm turned the race into a tragedy. Twentythree boats were sunk, 15 yachtsmen died, and 136 were rescued. The unexpected success of Canterbury Export has caused trowing pains for the company ecause so much of its capital is invested in the yacht. Since being named in the Admiral’s Cup team the company has sought support from other Canterbury firms for its campaign. “From the day that Canterbury Export was selected we knew that our costs would be in excess of $35,000. Now we expect we will have another $lO,OOO in costs on-shore in England.” It is hoped to sell Canterbury Export in England.

And the price? “We will be looking at about $300,000, as it is, with Category I safety specifications, two rating certificates and two sets of A return on investment is required to stimulate the future growth of the company. At present it is geared to producing about four boats a year. “If we received orders for six boats we would be embarrassed,” said Mr Collins. Expansion has still been steady. The factory started with four employees and now has eight. The number will probably be doubled next year. If orders for yachts are a little slow the company has a back-up product. It also manufactures 15m powerboats, each with two V 8 motors — an increasingly popular product. America will be the target for the main thrust of the business, but interest in the yachts has also come from Australia and Hong Kong. One boat is being manufactured for a local client who will race it in the Clipper Cup series off Hawaii.