Jim Meyer, president and CEO of Hatteras and Cabo yachts, said the two boat brands will be produced in smaller quantities going forward, but manufactured more efficiently.
In an interview with local media in North Carolina, Meyer, 49, said the Cabo plant in California is expected to close by the end of the year and that both Brunswick lines will be manufactured at the plant in New Bern, N.C.
Meyer expects that the change will create a "very, very full factory" at the plant as the market returns, although he does not expect a return to peak levels.
"The entire world, unfortunately, has changed in marine over the last few years," he told the Sun Journal newspaper. "The industry has gone through a substantial reduction in size."
In better economic times, he said, the company produced as many as 75 Hatteras yachts and 125 Cabo yachts a year. Going forward, he said, the New Bern plant will be manufacturing about 50 Hatteras brand yachts and 100 on the Cabo side per year.
"For us to design a business that assumes that it comes back to the best it was in the past, I think that would be a terrible risk on our part," he told the newspaper.
Meyer said the company has started a refit business so customers can bring back their yachts to have work done and has invested heavily in new products.