Milford Haven Port Authority (MHPA) has today announced a new partnership as it merges its Ship Repair business (Milford Haven Ship Repairers) with international boat builders Mustang Marine, to create a world class marine-engineering company.
Mustang Marine, a family-run business based in Pembroke Dock, has been operating since 1984 and has an impressive global sales record; Milford Haven Ship Repairers services the requirements of the Port, one of the largest in northern Europe, providing unrivalled experience and the expertise to handle a broad range of project work. The deal involves the substantial investment of new capital to finance growth plans of the enlarged business, with the specific objectives of shortening new-build delivery times, and providing state-of-the-art fabrication facilities at Pembroke Dock.
Speaking of the merger, chief executive of Milford Haven Port, Alec Don said it was their firm belief that marine engineering was an area with significant potential for growth in Pembrokeshire.
"The presence of the energy industry here has created a substantial skills base and our confident expectation is that since the two businesses naturally complement each other, together they will create around 30 new job opportunities over time within the county."
Kevin Lewis, one of the founders and the Managing Director of Mustang Marine commented, "This is an exciting next step in the future of the company and the Milford Haven Waterway. Last year we announced the expansion of our current site, enabling us to seek new opportunities within the renewables market whilst not disrupting our core business. This merger with MHSR and the investment from Milford Haven Port Authority will enable us to look forward to the development of the repair side of the business and the provision of these services to the renewables industry, as well as the enhancement to our new construction work."
Together with significant new investment by MHPA to facilitate planned growth over the next 3 years, the enlarged business will be 50 per cent owned by MHPA the Port and 50 per cent by Mustang's existing management, and will trade under the name Mustang Marine. It will continue to operate across the two existing sites at Pembroke Port and Milford Docks under extended lease agreements.
Photo caption: MHPA's pilot boat ‘Picton', which was built by Mustang Marine, on the slipway at Pembroke Port
Notes to Editors:
Milford Haven Port Authority
Milford Haven Port Authority is responsible for the biggest port in Wales, and the third largest port in the UK, handling over 71m gross tons of shipping which amounted to nearly 49m tonnes of cargo during 2011. One of the most prominent on the West Coast, it is in the heart of the Pembrokeshire Coast National Park, the only Coastal National Park in Great Britain.
Two Liquefied Natural Gas (LNG) facilities on its shores mean that a potential 30% of the UK's gas requirements will be processed through the Port. With 25% of the UK's petrol and diesel provisions already being handled on the Waterway, Milford Haven is emerging as the new energy capital of the UK.
Milford Haven Port Authority is a trust port -an independent, commercially run organisation that has statutory responsibilities governed by its Acts, to maintain and improve navigation and the provision of Port and Harbour services and facilities. All profits are retained within the Authority to fund these objectives.
More on Mustang Marine (Wales) Ltd
Mustang Marine is a well-established Boat Builder and Repairer of workboats, pilot boats, passenger and similar commercial vessels supplying to UK and foreign customers alike from their base in the Dockyard, Pembroke Dock. Their strong reputation has been built on the Company's commitment to employing and improving a dedicated in house technical team and management skills. This reputation has been growing ever since the Lewis family established the business in 1984. Their continued expansion in infrastructure through the development of larger undercover building halls is all part of their effort to realise their ambitious plans for growth. Mustang Marine has converted their own Quality Management System into a formal ISO 9001 qualification and environmental accreditation to ISO 14001. The multi skilled team work with steel, aluminium and GRP. They present competitive pricing to potential customers which, linked to strong project management culture, also contributes to the increasing reputation of Mustang Marine.
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Mustang Marine (Wales)
+44(0)23 9264 9868
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