is palmer johnson yachts still in business

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Palmer Johnson Yachts in Sturgeon Bay closing; 100 jobs lost

• Palmer Johnson to move manufacturing to the Netherlands

By Rick Barrett of the Journal Sentinel

Luxury boat builder Palmer Johnson Yachts of Sturgeon Bay is closing, resulting in the loss of more than 100 jobs.

In a plant closing notice filed Wednesday with the Wisconsin Department of Workforce Development, the company said sales had fallen and offshore competition had escalated.

"We are disappointed and saddened by this business closing, and yet realize that there is no alternative," the company said.

The shutdown will take place in phases starting about Oct. 31.

"We estimate complete closure of all facilities in the fourth quarter of this year, and obviously no (employee) bumping rights will be in effect," the company said.

Palmer Johnson said it will cooperate with the Department of Workforce Development to help employees find other jobs.

"We also ensure that all terminated employees will be paid all earned wages and agreed-upon fringe benefits upon termination," the company said.

Yacht building is an important niche industry in northeast Wisconsin, where the brands include Palmer Johnson, Carver, Marquis, Burger, Cruisers and Rampage. The industry also supports dozens of suppliers, including companies in the Milwaukee area.

Before the recession, the industry was booming, said Kenny Wooten, editor-in-chief of Yachts International magazine.

"It was just really crazy. There was more demand than (manufacturing) capacity worldwide. There were shipyards popping up all over the place," Wooten said.

Many of the wealthy buyers came from overseas, including Russian billionaires in the oil and gas industry. Then, starting in early 2008, the money dried up in the global recession.

Yacht builders like Palmer Johnson that employed hundreds of people all but shut down.

The Carver and Marquis brands, based in Pulaski, were sold in a bankruptcy auction in 2010. In 2013, Carver introduced three new motor yachts, the first time it had done that in years.

Some yacht builders remained in business through work they already had as well as other work such as building commercial and military vessels.

"Many of the American shipyards, in particular, have really suffered. At some yards there's a sense that things are moving again, but it's nothing near the level it was in the early 2000s," Wooten said.

In July 2014, Palmer Johnson unveiled one of the largest carbon-composite motor yachts in the world, built at its 96-year-old shipyard in Sturgeon Bay and valued at tens of millions of dollars.

The company wouldn't reveal the exact price or the buyer's name but said the 150-foot yacht was on its way to the Mediterranean Sea after some tests on Lake Michigan.

It took 18 months to complete that yacht, and the company said it had a contract to build a second one. At that time, the company employed about 200 people — about half of the employees it had in 2006.

"I am not certain that we will ever again experience what we had (in 2006)," President Mike Kelsey said at the time.

About Rick Barrett

Rick Barrett covers manufacturing, telecom and agriculture. He has received Best in Business awards from the Society of American Business Editors and Writers and was co-recipient of a Barlett & Steele award for investigative business journalism.

• @rbarrettJS
• [email protected]
• 414-224-2243

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Palmer Johnson to close

by FOX 11 News

STURGEON BAY — Palmer Johnson, a manufacturer of luxury yachts, is closing its two facilities in Sturgeon Bay.

The company has been in Sturgeon Bay for decades, building its first yacht 89 years ago.

The company sent a letter to employees Wednesday telling them they'll soon be out of a job.

The closure will put 100 employees out of a job. Palmer Johnson will start letting employees go October 31st and expects to be fully closed by the end of the year.

In a letter to employees, Palmer Johnson owner Timur Mohammed wrote "operation and employment levels have continued to diminish, sales have diminished, offshore competitive pressures have escalated, and as a result this becomes a necessity."

The closure comes a little more than a year after Palmer Johnson unveiled a multi-million-dollar 150-foot yacht. The company's president called it an example of buyer confidence in the market.

"There was a psychology that spending a lot of money was a bad thing," said Palmer Johnson president Mike Kelsey in July 2014. "People started getting away from that now and starting to relax a little bit."

Also in July of last year, Johnson and Palmer officials said the company recently signed more yacht contracts and planned to hire more workers.

"A lot of tourists would come up and the doors are open to watch them work on the boats and stuff and they'd walk around the block so they'd stop in too as well," said Tim Clark, the owner of the Nautical Inn, which is next door to Palmer Johnson.

Those tourists and workers from Palmer Johnson will be missed next door and beyond.

"Familiar faces you get to know a lot of guys and stuff," said Clark. "You might not be seeing them anymore."

• On the Water
• Door County News
• Sturgeon Bay

Palmer Johnson to Close Sturgeon Bay Facilities

By Door County Pulse , Peninsula Pulse – September 3rd, 2015

Palmer Johnson Yachts is closing  its manufacturing operations at their facilities in Sturgeon Bay.

The boat builder known throughout the world for its luxury yachts has been a major employer and a point of pride in Sturgeon Bay for generations. The closure is expected to eliminate 100 jobs in the city when it takes effect in 60 days, according to a release sent by Palmer Johnson.

The 210-foot super yacht at Palmer Johnson Yachts drew a lot of attention during a recent tour of the facility. Photo by Jim Lundstrom.

The Bay Area Workforce Development Board is working with employer to provide rapid response services to the affected workers.

“Our operation and employment levels have continued to diminish, sales have diminished, offshore competitive pressures have escalated, and as a result this action becomes a necessity,” owner Timur Mohamed said in a press release. “We are disappointed and saddened by this business closing and yet realize that there is no alternative.”

The company expects the closure to be permanent, with the first employees let go Oct. 31.

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Door County Tickets

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Boat of the Week: How an Iconic 171-Foot Superyacht Got New Life After Being Unused for a Decade

Commissioned by a russian oligarch, then acquired by a turkish owner, "db9" sat idle for years. then its us owner brought it back to life., howard walker, howard walker's most recent stories, this speedy 70-foot power catamaran is designed to cut through rough waters.

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It’s just a tad more powerful than the Aston Martin it’s named after. With a staggering 9,200-turbocharged horsepower, this 171-foot speed machine can reach a highly impressive 37 mph, two or three times faster than other yachts its size. Breakfast in Monaco, lunch in Porto Cervo and back in time for dinner? No problem.

Launched back in 2010 and christened DB9 after the classic V12-engined British sports car, it was the first of Palmer Johnson ’s iconic PJ 170 Sport Yacht range, and the only one built in England.

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Eleven years later, DB9 still spins heads from St. Tropez to St. Barts—two of its favorite ports of call—like few other superyachts. Those razor-edged lines are from designers Carlo Nuvolari and Dan Lenard of Venice-based Nuvolari Lenard.

The champagne-colored hull, red boot stripe and sculpted superstructure immediately identify DB9 , wherever it goes on either side of the Atlantic.  Courtesy YPI

Today, DB9 is the pride and joy of American businessman and boat lover, John Rosatti. Maybe you’ve bought a new car from one of his many Plaza Auto Mall dealerships. Or fine-dined at his Vic & Angelo’s Italian eatery in South Florida. Or grabbed a burger at one of his successful BurgerFi joints.

Rosatti bought DB9 back in 2019 a year after selling his much-loved 214-foot Codecasa superyacht Double Down . Before that, he owned the 160-foot Christensen Nice ’n Easy and, before that, the 127-foot Crescent Take it Easy.

At the time, the yacht was languishing unloved in an Istanbul shipyard, a for-sale sign in its window and an €18 million asking price. Rosatti’s car dealer instincts weighed the pros and cons. The cons included pricy overhauls for the yacht’s entire mechanical and electronic systems, plus a re-spray of the hull. The single, but eventually deciding, pro: an iconic boat at a great price.

The 171-footer has three onboard swimming pools, not to mention a small navy of water toys.  Courtesy YPI

Rosatti is currently off-the-grid aboard DB9 , cruising around the Italian island of Sardinia, so wasn’t available for comment. But Peter Thompson, managing director of Monaco-based Yachting Partners International, and Rosatti’s longtime friend and boat-buying advisor, gave Robb Report a history of the boat.

“ DB9 had pretty much been in mothballs her entire life,” he says. “Shortly after launch, she was hauled out of the water and parked on the hard. When we tracked her down in Istanbul years later, she had less than 1,200 hours on the engines.”

The Palmer Johnson was originally built for the Russian oligarch Sergei Pugachev. He was the founder of the MezhPrombank, and a close friend and advisor to Russian President Vladimir Putin. According to published reports, in 2011, a year after he took delivery of DB9 , Pugachev was accused by the Russian government of running off with a $1 billion bailout loan given to his bank. His considerable assets were reportedly seized, including DB9 , and he fled to England. He’s now living in exile in the South of France.

After sitting idle for years, the yacht went through a refit in 2019.  Courtesy YPI

“A Turkish buyer bought the boat out of receivership in 2016, managed to get it to Istanbul and renamed it Aura ,” says Thompson. “But it just sat there and, as we know, boats like these hate not being used. When we found her in 2019, she needed work.”

After the purchase, the boat went into the Dunya Yachts yard in Istanbul for a comprehensive refit. All the systems were upgraded, those mighty MAN diesels were overhauled and the yacht was given a complete re-paint in that polarizing Champagne-with-red-bootstripe color scheme. And the original DB9 name was resurrected.

“Today she’s in absolutely pristine condition,” says Thompson. ”Inside and out, she looks brand new and still turns heads like no other boat I know.”

The interior also received a facelift.  Courtesy YPI

Some of DB9’s coolest features include not one, but three pools, including a huge 26-foot saltwater pool on the foredeck that, when empty, holds the yacht’s RIB tender. Emptying it takes less than 10 minutes. For alfresco entertainment, the yacht comes with a state-of-the-art outdoor cinema on the sundeck. Belowdecks are five spacious staterooms for up to 12 guests, including a full-beam master.

According to Thompson, the “owner recently decided that he wants to replace DB9 with a larger yacht more suited to world-girding.” So, when the Rosattis are done cruising the Med this fall, it’ll be displayed at the Monaco Yacht Show in September, with a €25 million, or $29.4 million, asking price.

Maybe Rosatti should consider throwing in a champagne-colored Aston Martin DB9 to sweeten the deal.

Courtesy YPI

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• Palmer Johnson

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First look: Palmer Johnson unveils first 19m PJ63

US-headquartered shipyard Palmer Johnson has unveiled the first images of its all-carbon 19 metre PJ63 model, named Maveric 1 .

First hitting the water in May and making its debut at the Monaco Yacht Show 2022, the yacht marks one of the first Palmer Johnson vessels to be completed since the yard closed its Sturgeon Bay facilities in 2015. Construction of the sports yacht took place at facilities in northern Europe, while outfitting was undertaken in Pisa, Italy.

The new model has been built with an increased focus on efficiency and fuel consumption. According to the yard, when it comes to fuel emissions the PJ63 is 33 per cent more efficient compared to older yachts in the Palmer Johnson range. 

In a statement, the yard said that the eco-credentials of its latest models put it "on a good path to enabling larger zero-emission yachts where the company has set its sights".

Maveric I has a signature Palmer Johnson style, with a unibody hull design and a sculpted exterior culminating in a gentle reversed bow.

The yacht can reach top speeds of 34 knots and it benefits from "displacement characteristics" which result in a smoother journey with less slamming and a low banking angle during high-speed maneuvering.  

A 6.3 metre beam gives the PJ63 ample lounging spaces, with a large open deck lounge area complete with sunpads and seating. Below deck, guests will find a full-beam master cabin, a saloon with galley facilities and a forward guest cabin. 

Palmer Johnson has described the interior styling as an "evocative retreat" that contrasts modern shapes with light warm materials. 

With Maveric 1 on the water, Palmer Johnson is currently developing a series of day yachts and the first 15 metre hull will be launched in a few months. "This series is based on the fully developed trihull form and there will be a fully electric version as well," commented a Palmer Johnson representative. 

Elsewhere, the yard is also working on a new series of 36 - 55 metres Sportyachts designed for zero-emission cruising.

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