Drettmann: Tailwind for yachts from Bremen



Current insolvency proceedings in a good light

Investors show interest

Location in Bremen-Hemelingen to be maintained

 For 40 years, the name “Drettmann” has stood for an extremely successful

business in new yachts build and the specialist sales of pre-owned boats. With

the global financial crisis, sales simultaneously bottomed out in both of our

business fields, which had previously been well coordinated with one another.

This resulted in insolvency proceedings introduced at the end of May. Now the

German company based in Bremen directly on the Weser river steers into

calmer waters:

Positive signals are sent out by the market with large numbers of sales and the

interest of several potential investors. Because the reputation of the Drettmann

GmbH had only suffered very minor damage: “The quality of our own yacht

brands and the unique Refit-Programme by Drettmann enjoying a great

reputation”, says and is considered as a major and important reason by the

couple Claudia and Albert Drettmann.

Despite the insolvency proceedings, prominent clients are sending out anunambiguous signal: DTM and Formula 1 race car driver Ralf Schumacher has

Namely with increasing success. The number of sold pre-owned yachts rised

continuously in the last weeks. “The quality of our special Refit-Programme for

pre-owned yachts is known throughout Germany and Europe”, says Albert

Drettmann.

The ordered temporary insolvency administrator, lawyer Edgar Grönda,

underlines the fact: “During this difficult period we have the clear advantage

to offer absolute high-quality products. The actual situation is not the direct

consequence of mismanagement, but can be primarily traced back to the

worldwide economic crisis”.

New yacht orders however cannot be listed at the moment: “Each of our

yachts is unique and based on the individual preferences and wishes of the

future owner”, says Claudia Drettmann. The time period between order and

delivery of a new-built yacht is 1 to 3 years depending on the length. In the

current situation new orders are therefore not realizable.

The continuation of new yacht builds “made in Bremen-Hemelingen” is the

focal point and interest of investors and group of investors: “We are currently

holding different conversations and we are holding them in German”,

transcribes Edgar Grönda the origin of possible investor

The ultra-modern headquarter of the Drettmann GmbH (which was openend

in Bremen-Hemelingen in 2006) shall be maintained in the future – if the

agreement with investors is reached.

Not fixing a definite date for a final agreement with an investor, Edgar Grönda

comments: “At the moment we are determining how to continue even the

business of Drettmann GmbH without an investor. Therefore we are in contact

with the financing banks of Drettmann GmbH”.

Facts of Drettmann GmbH#

Sales of pre-owned yachts from May 2010:20 yachts (in three months) Sales of pre-owned yachts until May 2010:

Ralf Schumacher buys Bandido Yacht 75

9 yachts (in three months)

bought again a yacht from Drettmann. A Bandido 75’ from the Bremen series is

now at berth in St. Tropez.

“The yacht was sold – hand on heart – at the usual market price, despite our

friendly relationship”, says Albert Drettmann. That underlines the fact that all

yachts are sold at usual market conditions.

Turnover

in 2008: 89,9 Mio. Euro

in 2009: 69,9 Mio. Euro

in 2008: 58 employees

in 2009: 51 employees

in 2010: 52 employees (actual: 33 employees)

Founded in 1970 in Weyhe-Dreye close to Bremen

Move to Bremen-Hemelingen in 2006

Albert (41) and Claudia (34) Drettmann are managing the company in

Yacht lines: ELEGANCE YACHTS / ELEGANCE OPEN SPORT YACHTS / BANDIDOSOWIE FIRST CLASS PRE-OWNED YACHTSYacht lines: ELEGANCE YACHTS / ELEGANCE OPEN SPORT YACHTS / BANDIDOSOWIE FIRST CLASS PRE-OWNED YACHTSYacht lines: ELEGANCE YACHTS / ELEGANCE OPEN SPORT YACHTS / BANDIDOSOWIE FIRST CLASS PRE-OWNED YACHTS

Number of employees in Bremen