Hatteras, Cabo consolidation is on track

Author:
Updated:
Original:

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

STAR BRITE DEBUTS NEW MARINE DESCALING FLUID

Star brite introduces Marine Descaling Fluid—a powerful, easy way to descale raw water-cooled systems using recirculation. It saves time, energy, and a lot of headache, allowing for a faster, cost-effective return-to-service for equipment.

NAW Elects 2021 Officers

Michael Medart of Medart Engine and Marine takes the helm as chairman of the National Association of Wholesaler-Distributors board.

Caterpillar Names Global Manager

Alex Berg will lead the manufacturer’s pleasure craft and yachting segment.

Nearly 320K Boats Sold in 2020

NMMA says new-boat sales are at their highest level in 12 years, with all powerboat segments up 8 to 22 percent.

‘Injection of Capital’ for Cox Powertrain

The British company said it will use the $16.7 million to expand operations and ramp up production of its CXO300 diesel outboard.

Groupe Beneteau Releases Preliminary 2020 Financials

Revenues were down 15.1 percent for the 16-month period that ended Dec. 31. A full report is due next month.

A Modern Twist on Word of Mouth

The supercharged power of user-generated content.