Cobia announced to its employees Monday that it will be suspending production at the company’s Marion, N.C., plant effective Aug. 29.
This move comes as a result of difficult market conditions, which have hit the marine industry exceptionally hard, the company said in a release. A total of 68 people will be furloughed and production will be temporarily shifted to the Fort Pierce, Fla., manufacturing plant.
“This decision is by no means a negative reflection on our workforce or our decision to site our factory in Marion,” said company president Scott Deal in a statement. “Our country is in a recession and our industry is in a massive downturn. We expect market conditions to improve and plan to resume production in Marion the very minute conditions allow.”
Cobia is owned by the Maverick Boat Co., builder of the Maverick, Hewes and Pathfinder boats. Maverick purchased the Cobia brand from C&C Mfg., a Yamaha boat company, in March 2005.
Maverick moved production of the Cobia brand to the 110,000-square-foot plant in Marion about two years ago to keep up with increased demand for the saltwater fishing boats. At the time, Cobia employed 75 people in Marion and had expected to quadruple that number in three years.