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Limestone Plans $23.1M Expansion

1_LIMESTONE

Limestone Boat Co. said it will expand its White Bluff, Tenn. manufacturing facility with a $23.1 million investment that will create 132 full-time jobs.

The three- to five-year project at TN Composites will increase and reconfigure the plant, add technology, expand research and development and optimize the manufacturing process flow, Limestone said in a statement yesterday.

“We continue to have a healthy backlog for our brands and believe this to be a strong indication that the long-term growth trends in the marine industry remain resilient,” said Limestone Boat chairman Telfer Hanson in the statement. “The expansion of our facility and workforce is a long-term strategic priority that will allow us to increase our volumes and provide big-water boats of the highest quality to our growing customer base for years to come.”

The first phase of the project will concentrate on the existing footprint and labor force, including the integration of light-resin transfer molding and vacuum-infusion processes. It also will reallocate space for production of larger boats, i.e., 27- and 30-foot models.

The second phase will be an expansion of the current facility and include construction of a new building that will house administrative and research and development functions.

Collingwood, Ontario-based Limestone’s statement said it expects funding to be achieved via equity and debt offerings in 2023. The Tennessee Department of Economic and Community Development also is involved, the statement said.

The Limestone Boat Company is the owner and builder of Aquasport Boats, Limestone Boats and Boca Bay Boats.

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