Skip to main content

Hatteras, Cabo consolidation is on track

The president of Hatteras and Cabo Yachts said the consolidation of the manufacturing operations of the two boat brands at the New Bern, N.C., plant is still on track.

Jim Meyer, president and CEO of Hatteras and Cabo, said many of the 85 to 90 additional hires that were expected by the end of the year have been made.

Many of those workers came from the local area. Only a few workers relocated from the Cabo plant in Adelanto, Calif., he told the Sun Journal (New Bern, N.C.) newspaper.

The hires follow the summer announcement that the company planned to close the Cabo plant by the end of the year and move those operations to New Bern, adding 350 jobs over five years and investing $4.7 million.

State and local government leaders offered financial incentives to the company if it could meet performance milestones associated with the move.

The company has shipped its first new Cabo line boat out of the New Bern location already, he said, and is launching new products that he said "are all being received very promisingly."

"We remain very thankful that we have a very strong financial condition, and we have a lot of great new models coming out - and all of that helps," Meyer told the newspaper.

Click here for the full article.

Related

1_YEARGIN

Business for Good

Companies have a unique platform to make people’s lives better through products and services, how we treat employees and the kind of advocate we are for our industry.

DOMETIC-EARNINGS

Dometic Posts Sales Increase for Q4

Net sales of $596 million were up 11% compared with the previous-year quarter, and profit was reported at $2.6 million.

NEPTUNE-AWARDS

Marine Marketers to Present Neptune Awards

The group will hand out its annual honors during the Miami International Boat Show in February.

MARINEMAX-EARNINGS

MarineMax Releases Q1 2023 Results

Record revenue of $507.9 million was a 7% increase over the previous year, and the growth was driven primarily by acquisitions, including IGY Marinas.

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.