French Yacht Industry Picks Up Pace After A Disastrous Economic Recession

Now that the international economy is slowly recuperating from a near paralyzing recession, the French yacht industry is finally seeing golden days once again. The French yacht manufacturing behemoth, Rodriguez Group is witnessing is massive surge in its finances and the company is said to have recorded a double increase in its shares as trading resumes after a long lasting horrendous recession aftermath.

Rodriguez is known to be one of the foremost names in the yachting industry and severely hit by the global economic downturn, so much so that, the company had to seek protection fro creditors. However, now the firm has struck an agreement with the banks, wherein the institutions have agreed to initiate a partial cancellation of the company’s debts. Furthermore, the French judicial system has also okayed Rodriguez’s debt restructuring plan, thereby giving the company the freedom to re-enlist its stocks.

Now that the company is back on track, it is expecting a surge of orders and a significant increase in its revenues as wealthy buyers from Asia and Latin America begin contracting with the companies. These contracts will greatly benefit Rodriguez, as its major markets, Europe and the U.S are yet to resume their normal trading patterns. Rodriguez’s share have now gained an increase of a whopping 102% and closed at 5.85 euros, thereby marking the net value of the company at $97.18 million.

Via Reuters

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