VEECRAFT Marine, a wholly-owned subsidiary of Paramount Maritime Holdings and African-based global aerospace and technology company Paramount Group, proudly opened its new premises at a ceremony held in Cape Town on Monday.
The companies showcased nearly twenty years of maritime platform manufacturing best practices and expertise while celebrating its strong expansion and ongoing investment in the growth of the African maritime industry.
Veecraft Marine has manufactured more than 60 innovative maritime platform solutions in various classes since its inception in 2002, totalling more than R2bn ($130.4 million) of contracts. Leveraging its expertise and specialisation in the construction of 20 to 30 metre vessels, the company has secured a strong order book valued at over R200 million.
The prime location of Veecraft’s new facility provides excellent ease of access to the ocean, enabling the company to make significant cost and time savings in its logistical operations.
CEO of Paramount Industrial Holdings, Alison Crooks said: ‘We are delighted to open these facilities here in Cape Town, playing our part in unlocking the benefits of the “Blue economy” in-country and across the continent. This is an important milestone in the growth and development of Veecraft Marine, and indeed a celebration of the skills and experience of the leadership team and every employee in the company.
‘From these premises, we look forward to meeting the growing needs of our customers while strengthening Veecraft’s value proposition and forging greater opportunities for collaboration with customers from across the continent, providing our partners with world-class vessel design, incorporating the latest technologies and materials, training and long-term operational support.’
Guests toured the 2,500 square-metre facilities which will be the home to 80 members of staff, surveying maritime vessel production processes first-hand and manufactured platforms in various stages of development, including 20m workboats for South Africa’s Special Forces, hydrographic motor boats for the South African Navy and a 24m coastal reconnaissance workboat for a West African customer, powered by Volvo IPS Pod Drives, notably the first commercial maritime vessel to be powered by these drives on the continent.
CEO of Paramount Maritime, James Fisher said: ‘It is a privilege to expand our market footprint and invest at home and in the home-grown capabilities of South Africa. This nation is a leader in maritime technologies with key research and development capabilities, and the people behind them representing a beacon of innovation for the continent at large.
‘Facilities such as these showcase our commitment to the development of innovative African solutions to meet the challenges of the continent’s present-day. We take great pride in playing a leadership role in driving further vessel manufacturing, maintenance, repair and operations (MRO) capabilities that together have proven to bolster job creation and economic growth.’
A wholly-owned subsidiary of Paramount Maritime Holdings, Veecraft Marine offers specialised, turn-key maritime solutions that include new vessel design and construction, new vessel leasing and life-cycle services, vessel operating and vessel support.