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Just three years ago, most marine analysts were giving
last rites to Miami's ailing Bertram Yacht Corporation.
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Italian billionaire Norberto Ferretti
(inset) rescued an ailing Bertram Yacht
Corporation and introduced three new
models, including the 510
Sportfisherman pictured above.
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Today, the company has new ownership as part of the
Ferretti Group, production at the historic northwest section plant is
in high-gear and industry wags are crediting an Italian billionaire
with rescuing one of boating's most historic names from almost certain
extinction.
Norberto Ferretti, 54, chairman of the Ferretti Group,
said he thought the Bertram name and it's storied 40-year history as a
pioneer and leader in the boating world was simply too valuable to let
die.
"I am confident in the Bertram name," said Ferretti.
"The name is very, very strong. Probably, it is one of the most
important names in the world. And, I think it's possible to return it
to a profitable company."
Ferretti, who began accumulating his fortune selling
Lancia, Lamborghini and Maseratti automobiles in the family business
in Italy, has been a player in the luxury boat market for 32 years and
his Ferretti Group today includes some of the most luxurious yachts
and mega-yachts on the market, including the Ferretti, the Custom
Line, Pershing, CRN and Riva, in addition to Bertram.
"All of our brands are in the top of the segment
of the market in terms of quality and image," said Ferretti.
After buying Bertram, the dynamic Ferretti wasted no
time in making changes. He immediately made the decision to design and
produce three new sportfisherman models -- the 390, 450 and 510 (in
boating circles, the first two numbers of the model name denote the
boat's length in feet). The company introduced the 390 and 510 models
at last year's Ft. Lauderdale Boat Show and followed with the rollout
of the 450 earlier this year at the Miami International Boat Show.
"We had two lines," Ferretti said, "and
we introduced three new lines, we made three new models in 18 months.
It was not easy to do. But, today we have only about a 15-day delay
{in delivery time}."
The proof of success is in the numbers. In Ferretti's
first year of ownership of Bertram the company produced just 22 boats.
In the year just ended, the company more than doubled the previous
year's output, turning out 54 boats.
"This year is a big improvement," said
Ferretti. "We had a very good result in the last year, only one
year after the acquisition. We have a lot of production now, a lot of
boats, and now we have a good backlog of orders, a very good backlog.
Today, the client is more confident in the company, because now he
knows the company is strong, doesn't take risks with the down payment
and that we will deliver a boat."
But, Ferretti is not stopping to rest on Bertram's
laurels. He already has a new mold under construction at the Bertram
plant and plans to produce an even bigger sportfishing yacht, a
stunningly huge, luxury 67-foot craft.
"For the American market it is better to make a
bigger boat," Ferretti explained. "Bertram loses a lot of
clients because it does not have a big boat. Because after the 60,
where does the client go, to buy a Viking or a Hatteras? Clients who
buy the Bertram 60 and then want a bigger boat have no option. They
must switch to another manufacturer. So, Bertram will increase its
offering with a new 67-foot model."
Ferretti, a twice-divorced bachelor who divides his
time between Italy and Florida, noted that the person who buys a
Bertram -- with a price range of $250,000 to $450,000 -- is a loyal
customer and the demand by those customers for a bigger Bertram has
been strong.
"When a Bertram owner decides to buy a new boat,
he usually buys another Bertram," he said. "This is the
reason we decided to build a bigger boat, to give the client another
option."
Ferretti says he personally makes all decisions about
new lines of boats and works side-by-side with designers, architects
and engineers.
"I control the new boat," he said
succinctly. Ferretti says Bertram has exited the small boat
market and no longer will build a boat smaller than 39 feet. And even
the 39-footer will be used only to open a market. Even the legendary
31-foot Bertram Moppie, owned by thousands of sport fishermen around
the world, has been discontinued and the mold inadvertently destroyed.
Ferretti says the company will concentrate on building only big
sportfisherman boats with a flybridge.
"It is not easy to make a boat with a low price
with this company because the quality is very high, the accessories
are very expensive and the competition in the 30-foot boat market is
very strong," Ferretti explained. "For this reason, we
decided to cut the 36 and start with the 39."
Ferretti, who recently listed his Ferretti Group on
the Italian stock exchange, says he is beginning to re-establish the
market for Bertram outside the United States, shipping eight boats of
varying sizes to Italy alone just in the past year.
"We are starting to re-organize our
exports," he said. "It's not easy at this moment with the
value of the U.S. dollar. With the exchange rate at one U.S. dollar
for 2,100 Italian lire, it is not easy to sell a boat in Italy. But
the Bertram client will spend more to buy a Bertram."
Ferretti, a 1994 world champion offshore powerboat
ocean racer who competed six years, expressed pleasure at having met
Richard Bertram last December shortly before he died. Bertram, a
legendary ocean-racing champion in his own right, founded Bertram
Yacht and revolutionized boating at the middle of the last century by
popularizing the deep-v hull. Meantime, Ferretti said he has no plans
to put Bertram back into ocean racing.
For more information on Bertram Yacht and the Ferretti
Group, please call 305-633-8011.
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