Nicos M. Karaolis

Managing Director
Karnic Powerboats Ltd

Karnic Powerboats Ltd was founded in 1993 as a private company. In the early years the boats produced by the company were outboard runabout models of up to 18ft in length to satisfy the needs of the local market.

After some years the company introduced the first model of the Bluewater line, a 21ft walkaround with offshore hull design which marked the beginning of a new era for Karnic as it attracted interest from markets abroad. Exports gradually begun in 1998 and by year 2000 nearly all production was exported, to reach at present a destination list of more than 20 countries. Since then, the company has been honoured for their export achievement four times with the Cyprus Export Award.

The continuous growth of the company in the years that followed led to further investments for factory space expansion in order to satisfy increased production requirements. Today the company operates in private premises of 18.000 square meters, 5.000 of which are covered.
In 2006 a drastic restructuring of the production system based on ‘lean’ principles has improved productivity by a high two-figure percentage and has become the base for all subsequent developments and investments in the production methods of the company.