Marlow Yachts Expands in Florida

Marlow Yachts acquires Merrill Stevens shipyard in Miami, Florida.

(Snead Island, FL ‐ June 16, 2011) David Marlow, Chairman of Marlow Yachts and related companies is pleased to announce the successful acquisition of the historical Merrill Stevens north and south yard facilities in their entirety. Merrill Stevens began operations in 1885 with over 126 years of proud history servicing Commercial, Pleasure and Military vessels.

The beginnings of the impressive operation are humble, as Captain James Gilman Merrill originally opened a small blacksmith shop along the shores of the St. John's River in 1866. Located in Jacksonville, Florida, the leading deep‐water port in the Florida Territories at the time, the small blacksmith shop grew considerably
during the next 10 years, operating as an ironworks primarily serving the marine trade. The company was formally incorporated in 1885 by James Eugene Merrill, making Merrill‐Stevens Florida's oldest continuously operating company today. In recent times the famed yard was beset by difficult economic conditions causing a diminution of her proud past. It is Marlow's firm plan to restore that dignity and proud heritage to its proper place as perhaps the most iconic yard in our nation.

Located on the equally historical Miami River and in business since 1885 Merrill Stevens has played an important role in the development and maintenance of America’s yachting and commercial vessel scene. The long and storied tenure includes proud and major roles in support of the United States in several global conflicts, including the production of support vessels such as PT 91 and others during WW2 and beyond. It is Marlow’s intention to once again interact and support our nation’s fleet of Coast Guard and other agency’s requirement with priority service at equitable rates.

Capable of hauling up to 500 tons with the onsite Synchro‐Lift or separate railway of similar capacity supported by conventional Travelift equipment for enhanced portability, the fully equipped machine shop and other full support facilities will be upgraded, maintained, certified and refurbished to world class standards.Deep draft vessels present no obstacle to either the north or south facility with the now completed dredging of the Miami River to 21’ depth.

Starting immediately, the process of restoration, enhanced services offered and related community involvement matters will begin with clear marching orders. Providing a strong influence on the restoration and conservation of Marlow Merrill Stevens and the renaissance of the unique and storied Miami River are the thumbnail description of multi faceted community efforts. When completed the yard will appear park like, kept spotlessly clean like all Marlow facilities and offer the most complete array of services in the marine industry from new builds of virtually any size to complete rehabilitation of fine yachts. Marlow is now and has been for many years at the forefront of sustainable environmental practices on a global setting, leading the way with more respectful work place habits and technology from forestry through unique and unrivaled green manufacturing processes highlighted by our proprietary Full Stack Infusion® process that virtually eliminates atmospheric release of harmful chemicals while producing mechanically and cosmetically superior products.

It is with great pleasure and pride that we begin this new and exciting phase of the continued growth of our companies consistent with our long held policies of environmental stewardship, excellence in the marine and related trades with conscious efforts to provide and promote good employment practices under best
possible working environment.

The direct and indirect creation of hundreds of respectable jobs with significant capital infusion will enhance the entire industry over time. This large investment to the Marine Industry during turbulent global times exemplifies Marlow’s commitment to the industry spanning over 45 years to date.

David E. Marlow, Chairman
Marlow Merrill Stevens