Tasman Catamarans acquired by Seawind Catamarans
By IBI Magazine
Queensland-based Tasman Catamarans has been pulled from liquidation by Wollongong's Seawind Catamarans for an undisclosed amount. Tasman Catamarans business went into voluntary administration last month, according to a story on www.goldcoast.com.au. But the news service noted production was continuing as usual in Tasman's Nerang factory. Four boats are under construction. Seawind managing director Richard Ward told the news service the takeover would not result in any job losses. "In fact, we're looking to recruit in 2008 and we're definitely looking at good management for the group," he said. Ward said that none of the former Tasman directors, including major shareholder and former managing director Justin Coghlan, are part of the new management team. Ward said he hoped to increase production from eight to 12 boats per year to about 20. Before the acquisition, Seawind employed 80 people in two facilities, including its 60,000sq ft factory in Bellambi in Wollongong and a new factory of 12,000sq ft in Nowra. Ward said the Tasman catamarans were "very complementary" to Seawind designs. "This is an expansionary move for us and, for the first time, we will have a manufacturing facility in the rapid expanding marine industry on the Gold Coast," said Ward.
(17 December 2007)
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