Yamaha Motor Corp. U.S.A. announced today it will discontinue production of Century Boats effective immediately. The company has 63 full-time employees.
"The Century brand has a long history in the marine industry, and the decision to discontinue production was difficult to make, but market conditions have made it difficult to sustain an acceptable level of performance at the Panama City [Fla.] based facility," said Phil Dyskow, president of Yamaha Marine Group and Century Boat Company, in a statement.
Century Boats has seen its wholesale and retail sales decline sharply during the last 12 months, according to the statement.
The company will continue to provide its dealers and customers with parts and service and will honor warranties through its existing network of dealers. The company has 45 dealers in 18 states.
Yamaha purchased Century in 1995 as part of a plan to grow market share for its outboard motors in the offshore category. Annual sales for Century peaked in 2007 at more than 1,000 boats annually.
Yamaha also owns Skeeter Boats, of Kilgore, Texas, and G3 Boats of Lebanon, Mo. Skeeter and G3 were not impacted by this decision, the company said.