Displaying items by tag: Raymarine
Phoenicia was built using traditional Phoenician construction methods and materials, and designed using evidence from shipwrecks and archaeological finds. Advice from scholars ensured she was completely authentic, but on the inside she was equipped with the latest high tech electronic navigational equipment from Raymarine.
The journey was completed in two stages. The first saw Phoenicia depart from Syria in Summer 2008 and sail East as far as Yemen. After a short break, she completed her circumnavigation past Oman and Mozambique, around the Cape of Good Hope, out to the Azores, and through the Straits of Gibraltar via Tunisia, Malta and Lebanon to her final port of Arwad, where she arrived to a crowd of over 2,000 well wishers on 23rd October. The homecoming was celebrated with a gala dinner held at Tartous.
Phoenicia was fitted out with a Raymarine C80 multifunction display, GPS antenna, Automatic Identification System (AIS) receiver,, ST60+ tridata, wind system and repeater, DSM300 fish finder and Raymarine LifeTag wireless man overboard system. The systems worked flawlessly, despite facing severe conditions during the expedition including seven-metre waves and gale force winds. Having accurate navigational data also ensured Phoenicia could make the necessary detours to avoid dangerous areas prone to pirate attacks.
The Phoenicia expedition (www.phoenicia.org.uk) was conceived by Philip Beale, a former British Royal Naval Officer and entrepreneur. It is being featured in a national television documentary 'Ancient Worlds' to be shown on BBC2 in the autumn.
The firm who are also Nanni diesel and Yanmar engine agents are based in Unit 11, Kilnagleary Business Park,Carrigaline, Co. Cork. Web site (under construction) www.completemarinesolutions.ie or call +353 (0)21 4376766
Boating electronics provider Raymarine was saved from collapse over the weekend with a last-minute buyout.
Negotiations with a 'third party', which turned out to be the eventual purchaser, broke down momentarily, with GPS company Garmin making a last-ditch bid to buy the company. The bid would have been subject to receiving the green light by competition authorities.
Raymarine plc was forced to go into administration when its banking consortium withdrew finance on May 13, casting the future of the company into some turmoil.
As a result, Raymarine plc was put into administration on Friday, with all the working business elements of Raymarine Holdings then immediately sold out of adminstration to the original third party.
The eventual purchaser was Flir Systems, a US-based thermal imaging company, which bought Raymarine at a valuation of £124 million, making a 20-pence-per-share return to shareholders. The purchase price includes Raymarine's debt, which has been put at close to £100million, but the per-share return may diminish further once creditors claims come in.
Although Garmin's per-share bid was higher (£0.35 per share), the immediacy of the Flir bid made it more palatable to the administrators.
The transaction ensures business as usual for Raymarine customers and suppliers.
Raymarine is one of the world's leading radar, GPS and marine instrumentation brands. Flir are a major manufacturer of thermal imaging cameras
All documents relating to the sale can be viewed on Raymarine's investor relations page.