Fairline, one of the most successful businesses in Oundle, is planning to bring on stream an £8 million expansion of its production facilities in 2008.

A new product development facility of approximately 90,000 square feet plans to go into operation within this year. The original development department and in-house design at Fairline’s Oundle headquarters on the other hand, will also be expanded into a larger all in one office block.

Speaking at the Collins Stewart London Boat Show, Fairline chief executive Derek Carter said: “Our 40-year-old collection of corporate offices will be consolidated into one new 22,400sq ft purpose built office block in Oundle. This will bring together our global management, design, sales and marketing teams under one roof.” This is estimated to create at least 200 new jobs within Oundle itself.

Fairline is a strong brand known for its quality design, finish and classic styling. Its boats have low depreciation rates and high resale values. There is also strong evidence of customer brand loyalty, with many customers trading up through the model range. The market in Europe for power boats in Fairline’s size range is around 2,200 units a year, with growth seen both in value and volume as customers buy larger and more expensive boats.

Despite the credit crunch in the overall national economy, Mr. Carter is optimistic that this will have no effect on Fairline’s business. With a deposited order book in excess of £100 million and also the launch of a brand new boat model, Targa 52, Mr. Carter predicts the growth of Fairline to exceed 10% this year.

The new all in one office block in Oundle is scheduled to go into operation in October. Further expansion for this year also includes extra office openings being created in parts of Europe, the Middle East and the Far East. Mr. Carter is also planning to open a subsidiary office in Asia after June this year to support regional dealerships in Hong Kong, China, Singapore, Japan, Australia and New Zealand.