Seakeeper expands after increased sales in 2014 - Trade Only Today

Seakeeper expands after increased sales in 2014

Author:
Publish date:

Seakeeper said it had record growth in 2014, prompting the Maryland-based marine gyro stabilization manufacturer to increase the size of its manufacturing footprint.

Shipments of gyros increased 46 percent from 2013 as more boatbuilders added Seakeeper as standard and optional equipment on new builds, the company said. Seakeeper said a sizable portion of its sales also came from refits.

The company said it expanded its markets in 2014 with its portfolio of five new models, scaled to fit a wider range of boats from 30 to 220 feet. The updated units are more compact than earlier versions and cost less because of an investment in manufacturing efficiency, Seakeeper said.

"In response to increased demand, 2014 saw Seakeeper invest in its future," Seakeeper founder and CEO Shepard McKenney said in a statement. "We're strong and strategically situated for further growth."

Seakeeper said it recently added 18,000 square feet of engineering and manufacturing space, with supplementary equipment to parallel its capabilities. Also in 2014 the company established locally based sales personnel in Europe and opened an Asia base of operations in Singapore.

"We're forecasting strong top-line growth for 2015," vice president of sales and marketing Andrew Semprevivo said. "With the groundwork we've laid over the past six years, we look forward to making Seakeeper's vision of every boat being stabilized, therefore safer and vastly more enjoyable, a reality."

Related

E-nnovation Lab to expand at 2018 Metstrade show

The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.

Aluminum, tow boats lead moderate growth in May

Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.

Retaliatory tariffs on boats to EU start today

The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.