Sealegs gets orders for 102 boats
By IBI Magazine
Auckland-based Sealegs Corporation said that it had received orders for 102 of its amphibious RIBS valued at NZ$9.9 million. The company said that it received two orders of 24 boats from Kuwait and 14 boats from Malaysia. "We are continuing to receive strong demand for our amphibious boats and 75 per cent of the current orders are from international customers," said David McKee Wright, Sealegs CEO, in a statement. "Our production output has increased to approximately 16 boats a month and whilst the lead time is currently six months we are hoping our new increased production capacity will reduce customer lead times towards the end of the year." McKee Wright said the company is currently involved in several international tenders or purchasing cycles with government departments. He said Sealegs "expects to receive a major, multi-boat government order within the next 12 months." Sealeg's stock is currently trading at 0.500 per share on the New Zealand exchange, down about two per cent in recent trading.
(7 May 2008)
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