Bellingham Marine, a leading marina builder, and the leading Korean marina company, CK Marine recently announced that they have formed an agreement that will combine Bellingham Marine’s Korean operations (BMK) with CK Marine’s marina division. The alliance is a strategic move by two of the market’s strongest players to take a commanding lead in the Korean market.
Bellingham Marine and CK Marine form alliance to serve Korean Marina Market.
Bellingham Marine formed BMK a year ago to extend the company’s expertise to the growing Korean marina industry and establish a local presence.
“After being in the market for a year, it’s clear that to be most effective we need to partner with a local company,” said Everett Babbitt, President of Bellingham Marine. “The arrangement we’ve formed with CK better positions us to serve the Korean marina industry by maximizing our synergies.”
Babbitt added, “The partnership was carefully crafted to ensure maximum control over product quality as well as ensure the financial health of the new entity.”
Under the arrangement Bellingham Marine will provide all technical expertise to CK for manufacturing the company’s products including its flagship Unifloat concrete dock system. Bellingham will also provide engineering and design support through its worldwide network of engineers and consultants.
The joint venture will utilize CK marine’s existing plant and office space in Seoul, Korea.
Bellingham Marine’s presence in Asia has grown significantly over the past several years. The company’s operations include a licensee agreement in Japan and now Korea as well as offices in Malaysia, Singapore and China.
