Gulf Stream Marine is being assisted by Invest Northern Ireland to grow sales of its fibreglass leisure craft and associated equipment and services to global export markets.
The Londonderry-based company, operating since 2006, is to invest over £100,000 to help drive export sales of its leisure craft and technical services to over 50 per cent of its turnover.
Invest NI is providing financial assistance for the project in order to strengthen the company’s marketing expertise for its range of customised boats and cruisers. The project is projected to create four new jobs over the next two years.
Des Gartland, manager of Invest NI’s North West Regional Office, said: ‘The leisure craft industry particularly in Great Britain is currently worth around £3bn annually.
‘This investment will help Gulf Stream Marine to build on its existing business there by developing the significant opportunities it has identified for its expertise through more intensive marketing activities in the growth sectors of leisure and professional craft.’
‘This investment reflects our commitment to encouraging and facilitating the growth of ambitious companies that offer innovative products and services to markets outside Northern Ireland. The investment will support the development of Derry as a centre of excellence in the UK and Ireland for small marine craft,’ he added.