China Zhongwang Holdings Limited, the world’s second largest aluminium extruder and listed on the Hong Kong Stock Exchange, has acquired a controlling stake in Australian-based SilverYachts.

SilverYachts, founded in Perth in 2005, are builders of high-performance, fuel efficient, aluminium superyachts, and China Zhongwang Holdings Limited today announced at a press conference in Beijing that founder Guido Krass and yacht designer Espen Øino have formed a strategic partnership with China Zhongwang, making the latter the new majority shareholder of SilverYachts.

One of the existing strategies of SilverYachts is to establish an additional shipyard in China to build superyachts or commercial vessels customised for the growing Asian market and it is thought that the investment will allow Zhongwang to expand their application of aluminium in the marine industry.

For further information on SilverYachts and China Zhongwang Ltd, go to http://silveryachts.com/en and www.zhongwang.com

Images:  SilverYachts facility and China Zhongwang logo courtesy of SilverYachts press release