Hinckley to further reduce staff

Author:
Updated:
Original:

Hinckley Yachts is planning more layoffs this week at its Trenton, Maine facility, company president and CEO Jim McManus confirmed this morning to Soundings Trade Only.

McManus said 26 people will be laid off this week, with more layoffs possible though July. About 100 people have been laid off at the company since last fall.

However, he refuted reports that the company is looking at mothballing its Trenton plant.

"We remain totally committed to building sail- and power yachts in Maine. We face the same challenges as our peers in the marine industry, but we're very fortunate to have a business model that's based on both boat sales and service," he said.

The company has an active backlog through next February, and McManus is hopeful that a successful spring and summer selling season will keep production ramped up.

"We've been ramping production up and down according to demand for 80 years," he said. "We need to take short-term steps to ensure the long-term health of our operations in Maine."

Hinckley has sales and service locations around the country, with manufacturing facilities in Maine.

- Beth Rosenberg

b.rosenberg@tradeonlytoday.com

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.