Freeman Marine Equipment has new owner - Trade Only Today

Freeman Marine Equipment has new owner

Author:
Publish date:

Freeman Marine Equipment Inc., a U.S. supplier to the worldwide marine industry, is now part of Advanced Marine Technologies.

The company was purchased by AdvanTec Global Innovations of British Columbia, Canada. AdvanTec owns the four companies that comprise the AMT Group. The other members are Diamond Sea Glaze, Steelhead Marine and Manly Marine.

Terms of the deal were not disclosed.

Freeman brings 36 years of design, manufacturing experience, project management and customer support to the enlarged AMT family of leading brands for yacht, commercial, ferry, military, patrol and rescue vessel needs.

Freeman offers a broad line of fabricated and cast products. Its custom-crafted closures can be found on a range of vessels, including megayachts, government security boats, fish, tug and supply vessels, passenger ferries and large recreational boats. It also offers an extensive line of aluminum port lights and custom windows to meet the needs of marine builders around the world.

“We are very excited and looking forward to the addition of Freeman Marine to the AMT Group,” marine group CEO Dave Bockhold said in a statement. “Freeman is an excellent fit with our existing product range and will bring new capabilities and expertise to AMT’s specialty of designing and manufacturing quality components for the marine industry. There is very little overlap in terms of product redundancy and competition between the companies. This means we are better able to provide our customers with more choices to select exactly what they need.”

Freeman Marine, Diamond Sea Glaze, Steelhead Marine and Manly Marine operate from their own locations; however, product sales will be managed at a group level, the company said.

Related

E-nnovation Lab to expand at 2018 Metstrade show

The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.

Aluminum, tow boats lead moderate growth in May

Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.

Retaliatory tariffs on boats to EU start today

The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.