August 1, 2005 - Holland, Michigan, USA – Tiara Yachts has made an investment in its continued growth and profitability by announcing it will spend $14 million to create a high-tech expansion to its existing manufacturing facility in Holland, MI. This will add more than 300,000 square feet of production capacity.

“The expansion plan includes a new lamination and technical center.” S2 Yachts CEO David Slikkers said. “This will create an opportunity for us to implement new technologies that weren’t available to us 10 years ago.” The company plans to use robotics in various applications and looks forward to further leveraging lean manufacturing, standardizations and quality systems that the company has developed.  “This is an exciting and ambitious project for us.” noted Mr. Slikkers. “We are confident that our forthcoming capacity increases will allow us to accelerate the new product development process—enabling more new models and product enhancements faster.”

Tiara Yachts decision to expand was facilitated through enthusiastic support from state and local government. The Michigan Economic Development Corporation (MEDC) approved a tax credit valued at $4.7 million over 13 years, as well as a job training grant worth up to $200,000. The city of Holland has proposed local tax breaks of $2.1 million for the next 12 years.

Ground-breaking is slated to begin in the next 30 days and construction should be completed in 15 months. Tiara Yachts and Pursuit Fishing Boats are part of S2 Yachts, Inc. S2 Yachts, Inc. was founded in 1974 and is one of the oldest privately held boat manufacturers in the United States.