GYG signs two superyacht refit contracts with MB92

(Sharecast News) - Superyacht painting, supply and maintenance company GYG announced the signing of two refit contracts with MB92 Group on Friday.
The AIM-traded firm said the two contracts, with a combined value of more than €6m (£5.36m), were due to start immediately in MB92's specialist facilities in Barcelona, Spain and La Ciotat, France.

GYG said its operations in both shipyards were running as normal, with "enhanced" health and safety protocols in place, following a short closure of the yards during Covid-19 lockdowns in March and April.

"We are pleased to have signed these two significant refit contracts with MB92 Group, further enhancing the strong relationship between the two businesses and strengthening the order book through the summer," said chief executive officer Remy Millott.

"Whilst there is no doubt that the ongoing Covid-19 pandemic is affecting businesses and individuals across all industries and geographies, GYG's market leading proposition and proven resilience are enabling us to quote for a record number of Refit contracts and undertake the work in the safest way possible, protecting the health and wellbeing of our staff, customers and suppliers."

At 1329 BST, shares in GYG were up 13.27% at 78.16p.