The future of Mustang Marine

After taking control in January this year, Standard Bank appointed a new general manager with marine industry experience, Chris Heaton, and settled in to its role as silent partner, allowing the business and its management team to operate independently and map its course ahead.

The decision was made early in the piece to continue manufacturing from its Gold Coast facility and the company said it now employs 100 staff and contractors, a number that continues to grow as more and more former employees return from brief stints with other local boat manufacturers.

"As we (Mustang) continue to grow, opportunities are opening up and we are able to welcome back employees and contractors that were forced to seek employment elsewhere while times were tough" said operations director, Russell Weston.

International interest has also been encouraging, said Heaton, who has been visiting countries throughout Asia, Europe and the Middle East over the past four weeks to make personal contact with existing and potential dealers and customers.

While no single marine manufacturer is immune from the current economic conditions, Mustang Marine said it is positioned well to weather the storm and use the slowdown to continue with its changed management strategy.

Mustang Marine said that with a low overhead/low debt structure, and a set of realistic and manageable targets, coupled with a rejuvenated workforce and strong long-term commitment, the future of it as one of Australia's most recognised boat builders appears in good hands.

For more information, phone (07) 5571 7255 or email: aforrester@mustangmarine.com.au