NEW BERN, N.C., July 20 /PRNewswire/ -- Hatteras Yachts, a unit
of Brunswick Corporation (NYSE: BC), today announced that it will
consolidate production of both its Hatteras Yacht and CABO Yacht
brands at its facility in New Bern,
N.C. CABO Yachts are currently made in a plant in
Adelanto, Calif., which will be
closed by the end of the year as that production is phased down and
migrated to the New Bern
facility.
"Bringing our brands under one physical roof will allow us to
fully leverage our technological and operational advantages, better
serve our dealers and customers, reduce fixed costs and more
effectively use our available manufacturing capacity," explained
Hatteras President James R.
Meyer.
"Despite the currently difficult marine market, we have been
investing aggressively in developing new products for both CABO and
Hatteras, as well as in increasing
manufacturing efficiency at the New
Bern factory. Building both brands in New Bern will give us new operating leverage
at an opportune time," Meyer added. CABO and Hatteras already share services in
New Bern for product design,
engineering, marketing, and sales.
"The move also brings CABO production closer to the majority of
our markets, trimming delivery times while allowing some deliveries
via waterways, which was not feasible with CABO's location in
Southern California. The
consolidation will allow CABO to deliver a more turnkey product,
reducing commissioning time, rigging costs and dealers' financing
expense," Meyer explained.
To help prepare the New Bern
facility and workforce to integrate CABO Yachts into production
there, the State of North
Carolina, along with various Craven County and New Bern governmental entities, will provide
economic assistance tied to Hatteras and CABO meeting certain performance
measures over the next several years.
"Hatteras has been one of the
foremost corporate citizens of New
Bern since the 1960s," North
Carolina Gov. Bev Perdue
said. "I often work to bring new jobs to North Carolina, but it is equally important to
help our existing businesses grow."
CABO employees were informed this morning of the decision to
consolidate production. "These decisions are never easy,"
Meyer said, "but are required by business realities, and are no
reflection upon the dedication and expertise of the men and women
at CABO Yachts." Meyer reported that many members of the CABO
manufacturing team and certain managers will be offered jobs and
relocation assistance to move to New
Bern.
About Hatteras and
Cabo
Hatteras Yachts, a unit of Brunswick Corporation, is
recognized as a world leader in the construction of convertible
sportfishing and luxury motoryachts. Based in New Bern, N.C., Hatteras pioneered the production of large
offshore fiberglass powerboats with the introduction of its first
model in 1959. Hatteras builds
luxury motoryachts from 60 to 105 feet and sportfishing convertible
yachts from 54 to 77 feet. For more information, visit
www.hatterasyachts.com. Cabo Yachts has enjoyed a
well-deserved reputation as one of the world's top builders of
sportfishing boats from 32 to 52 feet for nearly 20 years. For more
information, visit www.caboyachts.com.
SOURCE Hatteras