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Arizona powerboat builder shuts down

Power Marine and Motor Sports Inc., the Lake Havasu City, Ariz.-based manufacturer of Magic Powerboats and Sleek Powerboats, closed its doors last week after 15 years in business.

"We are not bankrupt, we are just closing our doors. ...It is very hard," owner Ron Moyes, told the News-Herald.

He would not comment on why the company's closed down.

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