Sail-World.com : Australia's Seawind Catamarans in voluntary administration
Australia's Seawind Catamarans in voluntary administration
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The Australian arm of Seawind Catamarans, including Seawind Group Holdings Pty Ltd was placed into voluntary administration as of the 17th of August, 2012.
Despite Seawind’s best efforts to keep the Australian based manufacturing operating during the last three years of global economic turmoil and the high Australian dollar, ultimately it has been unable to continue business under its former structure and is now under the administration of BRI Ferrier, Chartered Accountants.
BRI Ferrier has advised that its principal role is to take control of the Seawind companies and to conduct an urgent assessment of the financial position of these companies with a view to developing realisation and/or reconstruction strategies for the benefit of all stakeholders.
The three remaining Seawind 1250’s being built in Australia will be finished under a manufacturing license using many of the same skilled shipwrights and tradespeople who were previously building the Seawind 1250 under the Seawind Group.
The Seawind management and Director are resolved to complete these boats in accordance with the customer’s contracts.
Corsair Marine is unaffected by the administration process and will continue building the Corsair range of performance trimarans, plus the Seawind 1000XL and the Seawind 1160 catamarans.
Business will continue on as usual for Corsair Marine and it is hoped that the administrators will work through delivering Seawind back to business as usual in the not too distant future also.
by MarineBusiness-World
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7:54 AM Tue 21 Aug 2012GMT
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