boatingbusiness.com
MARCH 2021
Washington Post 6 | Person Behind the Face 6 | Business Matters 10 | Marketing 16 | People 24
£12m FOR COX POWERTRAIN
NEWS
Boaters prosecuted Record rescues Strong sales pages 1-9
ELECTRONICS
Smallest antenna Partnership Increased demand pages 12-18 Cox Powertrain has received an additional £12 million in funding to help it increase production. The diesel outboard manufacturer has received £9 million from existing private shareholders and a further £3 million loan from HSBC UK Equipment Finance. The company began production of its CXO300 outboard in May 2020 and now ships the engine to more than 16 countries. “2020 was a year of milestones for Cox Powertrain as we entered production of the CXO300 despite the challenges
8 Cox Powertrain is to increase production of its diesel outboard
of the global effects of Covid-19,” explained Tim Routsis, Cox Powertrain CEO. This injection of capital allows us to now scale up our business and fulfil our growing order books.” The company is planning to acquire more parts to ensure a ramp-up in production is successful. The CXO300 is built at Cox Powertrain's HQ in Shoreham, UK, where £6.7 million from preceding investment was used to finance its production facility.
NEW HOME FOR SIBS 2021? Southampton International Boat Show 2021 could move to a new location in the city with a new layout and entrance this September under plans being discussed between organisers British Marine and Southampton City Council. However, BM CEO, Lesley Robinson is keen to stress the existing Ocean Hall will feel very similar to that of past years. The plans could mean the show moves along the city walls which, says Lesley would mean more integration with the city. There could be a bridge to Mayflower Park and the marina which would remain as part of the plans. “It will be the biggest change in 30 years if it happens,” said Lesley who added that zoning the show into different categories is also under discussion. “It will make a lot more sense,” she explained. “We want
new visitors to the show to know where to go.” The plans are part of BM's efforts to encourage more people particularly those new to boating to visit the show. Other plans could include free or reduced rate entrance for students and new attractions. The event is set to run concurrently with MDL's Ocean Village show with both MDL and BM 'engaged in discussions' with the aim of maximising both shows. It is still unknown whether the two organisations will work together, however Lesley is keen to stress that: “Everything needs to be in the best needs of the industry. All options are on the table.” She added: “We're very open minded.” Both shows are scheduled to take place September 10-19.
FITTING OUT: INTERIOR
New downlighters Reduced vibration Rising demand pages 20-23
PROFILE
Mark Rushall page 26