Two Maine boatbuilders are forming a joint venture to begin building 48-foot sailboats for an unnamed customer, the Bangor News reports.
Union River Boats in Bucksport and Lyman Morse of Thomaston hope to begin building the new design sometime next year.
The project will require a $1.25 million investment spread between the two companies.
Both companies are investing in the project and also will seek grant funding that would provide revenues during the start-up time before they begin selling the boats. Bucksport town councilors recently authorized the town manager to submit an application for a $100,000 CDBG Business Assistance Grant through the state’s Department of Economic and Community Development.
The companies also will seek additional grant funding to cover some of the start-up costs and plan to seek funds through the North Star Grant to provide any training for new or rehired employees.