Lyman-Morse ‘persevering’ through market conditions

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A recent e-newsletter from Cabot Lyman, owner of Lyman-Morse Boatbuilding Co. in Thomaston, Maine, seeks to set the record straight on the current state of his company.

"We are still alive and well, and still building exceptional boats ..." Lyman said, before detailing what various changes in personnel and management style in light of the current economic climate.

The custom boatbuilder is "persevering" and remains "strong," Lyman said, despite the departure of company president JB Turner and two projects halted midstream. Despite a decline in manpower, the company maintains 100 employees on its books.

Several large refit jobs during the winter and a full workload this summer has kept the crew working.

Consultants were brought in two years ago to review financial and management aspects of Lyman-Morse, which has since led to steps to alter and streamline the day-to-day business practices.

The restructuring toward greater efficiency will place the 32-year-old boatbuilder in a better position going forward, according to Lyman.

Click here to read the full letter.

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