Canadian builder emerges from bankruptcy

Author:
Publish date:
Rossiter will still have to wait for outboard deliveries for its larger models.

Rossiter will still have to wait for outboard deliveries for its larger models.

Rossiter Boats, which was placed into bankruptcy in June, will restart production next week. The company said in a statement that it has found a new owner. Scott Hanson will resume the position of company president.

“We suspended production in early June and will resume again next week,” Hanson told TradeOnlyToday.com. “We expect to be back at full capacity by the end of the year.”

Hanson said the company ceased operations in June, primarily because of an industrywide shortage of outboards above 150-hp that prevented it from fulfilling orders. “There’s still an issue in terms of shipment dates,” Hanson said. “We have a significant volume boats in the plant without engines. But when engines become available at the end of the fourth quarter, we will ship those boats. This doesn’t curtail us from manufacturing boats in the meantime.”

The new owners have “insured” that Rossiter has a strong capital base to continue product development, said Hanson.

Rossiter, which sells in both Canada and the U.S., didn’t lose any of its 26 dealers during the bankruptcy period. Hanson said dealers traded completed boats among themselves to fulfill orders. “We’ve received new orders and are working to fulfill them,” he said, adding that the builder will have “no problem” delivering its smaller boats with outboards below 150 hp. 

Related

PressureMate Introduces On-Board Pressure Washer

The 12-volt system has a patent-pending plunger design that produces 600 psi of pressure.

ABYC Introduces Entry-Level Certification

The Marine Service Technology program now includes a year-end exam to help launch students into marine-industry careers.

IBEX Calls for Innovation Award Entries

The NMMA-managed program is accepting new-product submissions through Aug. 13.

Pocket Yacht Opens in N.C.

The Cutwater and Ranger Tugs dealer opened in New Bern, its third East Coast location.

Trawlerfest Scheduled for Newport

Passagemaker magazine’s signature event runs Aug. 24-28 at Newport Shipyard in Rhode Island.

Our Most Critical Federal Program Needs Your Support

The Sport Fish Restoration and Boating Trust Fund is up for renewal. Ask Congress to support its reauthorization.

KVH Introduces TracPhone LTE-1

The new communications system provides connectivity up to 20 miles offshore in more than 150 countries.