Backed by the strong financing of two local entities, Al Ain International Group and Privinvest, the organisation has spearheaded formation of a powerhouse holding company under the umbrella of Abu Dhabi MAR. Its principals have, for over 20 years, owned the famed French shipyard, CMN, in Cherbourg. In July 2009 they acquired more than 90 percent of the equally adept Nobiskrug shipyard in Rendsburg, Germany. Each of these shipyards has recently launched an award winning yacht: CMN’S’ 60-meter Slipstream, and Nobiskrug’s 74- meter Siren. In aggregate, as of autumn 2009, the three shipyards, which employ more than 2,000 people, have ten yachts on order totaling more than 800 meters length, representing a significant portion of the entire global order book for yachts over 60 metres. The group’s order book also exceeds one billion euros.
And the story continues. In mid-October 2009, Abu Dhabi MAR signed an agreement with Germany’s Thyssen Krupp Marine Systems (TKMS), a leading European systems house supplying submarines, naval surface ships, luxury yachts, as well as repairs and component supply. The agreement calls for a close strategic partnership as a further step toward creating a world leader in naval and superyacht building. The partnership involves a 50:50 joint venture, called Blohm+Voss Naval, for the design and manufacturing of naval surface ships (frigates, corvettes and offshore patrol vessels). The agreement also translates into the holding company owning an 80 percent stake in the superyacht business and in each of the existing companies ‘Blohm+Voss Shipyards,’ ‘Blohm+Voss Repair,’ and ‘Blohm+Voss Industries.’
It is fair to say that, in a remarkably short time, Abu Dhabi MAR has placed itself on the local map of the UAE’s capital Emirate, and has grown into a major player on a highly competitive stage. But it has also placed itself at the centre of a much wider map, as one of the global driving forces in naval shipbuilding and luxury yacht building for the future.