STOP PRESS - Seawind Catamarans acquires Corsair Marine
New growth opportunities from “marriage made in heaven”
Australian cruising-catamaran builder, Seawind, has purchased trailerable-trimaran and multihull manufacturer Corsair Marine.
Announcing the purchase during Seawind’s 12th annual Pittwater Regatta in Sydney last weekend, Seawind managing director Richard Ward said: "This is a marriage made in heaven. The two companies have products and manufacturing processes that strongly complement each other. For both Seawind and Corsair, it will signal new growth opportunities in both the manufacturing and sales areas."
Seawind plans to continue and strengthen the Corsair brand worldwide.
Ward said that both Seawind and Corsair customers would benefit from the combined company.
"Our loyal Seawind customers will see benefit in technology transfers as well as the cost benefits of a larger overall manufacturing base and the integration of some common componentry," said Ward.
"Corsair customers will gain these benefits as well as strong Seawind management and greater financial strength.
"It’s an incredibly good fit for both companies, allowing us to expand and compete in a global market. Both will benefit from each other’s special expertise with significant transfer of ideas, systems and personnel.
"It offers great opportunities to grow in all areas and ensure that Seawind’s high standards of quality are maintained and improved upon.
"Ultimately, we are improving profitability in our company so that we can remain strong and competitive in a global market to ensure we will be around for another 25 years or more," he said.
Corsair has been building performance trimarans for 25 years and launched more than 1600 boats, with successful export markets including the USA, Europe and Australia. The company’s current range includes the Dash and Sprint 750 models (24ft) as well as the C28, C31 and C37 trimarans, while a 50ft performance catamaran, designed by world-famous Reichel Pugh design, completes the Corsair lineup.
Established in the USA in 1984, Corsair Marine was bought by Australian Corsair dealer Paul Koch in 1994 but remained at its home base in San Diego, California. Four years ago, the company relocated its manufacturing plant to Vietnam from where it now exports to every continent in the world, Seawind said.
"This was a good move for the company, resulting in significantly reduced manufacturing costs, whilst also improving overall quality due largely to a combination of skilled American and Australian management and a highly resourced and well-trained local labour force," said Paul Koch.
Ward said Seawind will build on the local knowledge and expertise that Corsair has developed over the past four years to lower its own production costs by outsourcing transportable components to the Corsair facility. Seawind production will continue in Australia at the company’s new $2.5 million plant near Wollongong south of Sydney.
"Not only are we joining forces with a multihull production company that has been very successful in its own right," said Ward, "but we are picking up their manufacturing expertise and tapping into a network of sales agents that stretch around the globe."
He said that the acquisition will create one of the world’s most comprehensive and exciting yachtbuilders.
Seawind Catamarans was recently awarded the Best Exporter of the Year by the Australian International Marine Export Group (AIMEX), and currently manufactures a range of high-end cruising yachts including the newly developed 41ft Seawind 1250, the multi-award-winning 38ft Seawind 1160, Australia’s most popular catamaran, the 35ft Seawind 1000XL, and the 35ft day charter Seawind 1050 Resort.
For more information, www.seawindcats.com
Photos: Corsair C37; Corsair Dash; Corsair 50; Seawind 1250.
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