rumor?
06-28-2009 | 06:37 PM
#11
Gold Member
Joined: Jun 2005
Posts: 441
Likes: 1
From: Canton,Michigan
The word is Donzi sold for 10 million. It is probably a good thing and hopefully the new owners are committed to a long term vision. There is also another very popular struggling legendary boat manufacture available for 7 million. This economy has taken some good companies to their knees. Give the market one more year and they will be back.
Let's hope for the best!
06-29-2009 | 09:08 PM
#15
Registered
Joined: Oct 2005
Posts: 172
Likes: 0
From: Carpentersville, IL
A little article I found.
Private investors buy Manatee's Donzi Marine
HERALD-TRIBUNE ARCHIVE / 2000 Buy photo
Workers at the Donzi Marine plant in south Manatee County assemble boats on the shop floor. Boat manufacturers have been hit hard by the recession.
Staff Report
Published: Thursday, June 25, 2009 at 1:00 a.m.
Last Modified: Wednesday, June 24, 2009 at 7:16 p.m.
MANATEE COUNTY - Donzi Marine and its sister Pro-Line Boats have been sold by their parent American Marine Holdings to private investors.
The identity of those investors and the terms of the deal for the Manatee County boatmaker are not being disclosed.
Donzi's management team will remain in place. The investors of American Marine Holdings have sold their shares to the private investors, said Josh Stickles, Donzi's vice president of marketing.
Boat manufacturers have been pounded by the deep U.S. recession. With their net worth falling and credit so hard to come by, consumers have been loathe to buy big-ticket items like boats.
The National Marine Manufacturers Association reports sales of new boats fell 30 percent in 2008 and are expected to drop another 20 percent this year.
Genmar Holdings Inc., which shuttered its enormous Manatee County plant and laid off 225 employees last year, filed for Chapter 11 bankruptcy protection from its creditors earlier this month.
Struggling like it counterparts in the moribund economy, Donzi has been operating its Manatee County plant in a limited production mode. The company has a typical production staff these days of 15 to 20 compared with 200 when the economy was booming, Stickler said.
But Donzi has started planning to ramp up production and recall some employees, a move driven by some rising demand as supplies of Donzi boats shrink in the marketplace.
"We've established a bit of a backlog. We've been reducing our field inventory," Stickles said Wednesday. "When the market returns, customers want new boats that they can't find in the field."
Rumors have circulated that, as part of the sale, Donzi plans to eliminate most of its lines of single-engine boats, but Stickles defused that notion.
"We really haven't established that yet," he said. "Larger boats, twin and triple engine boats are where the market is heading, but that is still to be determined. None of these discussions are being made lightly. There will be no immediate shift in what we're doing."
For some time, Donzi has been more focused on its larger models, customer boats and the more "up market," Stickles said.
To appeal to the high-end buyer, Donzi has increased the average size of the boat it sells from 28 feet five years ago to 38 feet in recent years. Prices range from $50,000 to more than $500,000. The boatmaker also hyper-customizes boats, whether that means a $25,000 custom paint job or an ultra-plush interior.
"Our plan here is to continue to stay true to our brand," Stickles said.
Genmar's bankruptcy filing shows the pain in the boat-making business. The Minneapolis-based company listed assets of $237.5 million and liabilities of $216.5 million. Genmar, besides closing its plants in Florida, has cut its work force from 4,500 to about 1,500.
Brunswick Corp., the world's biggest boatmaker, also has suffered. Last month, the Lake Forest, Ill.-based company reported a 52 percent drop in marine sales for its first quarter. Brunswick said it moved to the first-quarter loss as the recession continues to keep customers at bay and erodes sales. Results also were weakened by restructuring charges and some special tax items totaling 85 cents per share.
The company, which also makes exercise and bowling equipment, lost $184.2 million, or $2.08 per share. That compares with profits of $13.3 million, or 15 cents per share, a year earlier. Sales slumped about 45 percent to $734.7 million from $1.35 billion as Brunswick's marine sales tumbled.
Private investors buy Manatee's Donzi Marine
HERALD-TRIBUNE ARCHIVE / 2000 Buy photo
Workers at the Donzi Marine plant in south Manatee County assemble boats on the shop floor. Boat manufacturers have been hit hard by the recession.
Staff Report
Published: Thursday, June 25, 2009 at 1:00 a.m.
Last Modified: Wednesday, June 24, 2009 at 7:16 p.m.
MANATEE COUNTY - Donzi Marine and its sister Pro-Line Boats have been sold by their parent American Marine Holdings to private investors.
The identity of those investors and the terms of the deal for the Manatee County boatmaker are not being disclosed.
Donzi's management team will remain in place. The investors of American Marine Holdings have sold their shares to the private investors, said Josh Stickles, Donzi's vice president of marketing.
Boat manufacturers have been pounded by the deep U.S. recession. With their net worth falling and credit so hard to come by, consumers have been loathe to buy big-ticket items like boats.
The National Marine Manufacturers Association reports sales of new boats fell 30 percent in 2008 and are expected to drop another 20 percent this year.
Genmar Holdings Inc., which shuttered its enormous Manatee County plant and laid off 225 employees last year, filed for Chapter 11 bankruptcy protection from its creditors earlier this month.
Struggling like it counterparts in the moribund economy, Donzi has been operating its Manatee County plant in a limited production mode. The company has a typical production staff these days of 15 to 20 compared with 200 when the economy was booming, Stickler said.
But Donzi has started planning to ramp up production and recall some employees, a move driven by some rising demand as supplies of Donzi boats shrink in the marketplace.
"We've established a bit of a backlog. We've been reducing our field inventory," Stickles said Wednesday. "When the market returns, customers want new boats that they can't find in the field."
Rumors have circulated that, as part of the sale, Donzi plans to eliminate most of its lines of single-engine boats, but Stickles defused that notion.
"We really haven't established that yet," he said. "Larger boats, twin and triple engine boats are where the market is heading, but that is still to be determined. None of these discussions are being made lightly. There will be no immediate shift in what we're doing."
For some time, Donzi has been more focused on its larger models, customer boats and the more "up market," Stickles said.
To appeal to the high-end buyer, Donzi has increased the average size of the boat it sells from 28 feet five years ago to 38 feet in recent years. Prices range from $50,000 to more than $500,000. The boatmaker also hyper-customizes boats, whether that means a $25,000 custom paint job or an ultra-plush interior.
"Our plan here is to continue to stay true to our brand," Stickles said.
Genmar's bankruptcy filing shows the pain in the boat-making business. The Minneapolis-based company listed assets of $237.5 million and liabilities of $216.5 million. Genmar, besides closing its plants in Florida, has cut its work force from 4,500 to about 1,500.
Brunswick Corp., the world's biggest boatmaker, also has suffered. Last month, the Lake Forest, Ill.-based company reported a 52 percent drop in marine sales for its first quarter. Brunswick said it moved to the first-quarter loss as the recession continues to keep customers at bay and erodes sales. Results also were weakened by restructuring charges and some special tax items totaling 85 cents per share.
The company, which also makes exercise and bowling equipment, lost $184.2 million, or $2.08 per share. That compares with profits of $13.3 million, or 15 cents per share, a year earlier. Sales slumped about 45 percent to $734.7 million from $1.35 billion as Brunswick's marine sales tumbled.
06-29-2009 | 09:29 PM
#16
Registered
Joined: Mar 2006
Posts: 121
Likes: 0
From: Miami, Florida
The word is Donzi sold for 10 million. It is probably a good thing and hopefully the new owners are committed to a long term vision. There is also another very popular struggling legendary boat manufacture available for 7 million. This economy has taken some good companies to their knees. Give the market one more year and they will be back.
06-30-2009 | 12:42 PM
#18
Registered
Joined: Mar 2002
Posts: 5,819
Likes: 14
From: cleveland
50% of donzis 07 and 08 dealer invt has been repoed and selling at less than dealer cost.... search boat trader... allmost all the donzi listings are now dealer repo liquidations 10/20% under dealer cost
2008 38 ZSF tripp 300 verados original list 400k now 200k with demo hours
2008 38 ZSF tripp 300 verados original list 400k now 200k with demo hours
06-30-2009 | 05:35 PM
#19
Gold Member
Joined: Jun 2005
Posts: 441
Likes: 1
From: Canton,Michigan
A little article I found.
Private investors buy Manatee's Donzi Marine
HERALD-TRIBUNE ARCHIVE / 2000 Buy photo
Workers at the Donzi Marine plant in south Manatee County assemble boats on the shop floor. Boat manufacturers have been hit hard by the recession.
Staff Report
Published: Thursday, June 25, 2009 at 1:00 a.m.
Last Modified: Wednesday, June 24, 2009 at 7:16 p.m.
MANATEE COUNTY - Donzi Marine and its sister Pro-Line Boats have been sold by their parent American Marine Holdings to private investors.
The identity of those investors and the terms of the deal for the Manatee County boatmaker are not being disclosed.
Donzi's management team will remain in place. The investors of American Marine Holdings have sold their shares to the private investors, said Josh Stickles, Donzi's vice president of marketing.
Boat manufacturers have been pounded by the deep U.S. recession. With their net worth falling and credit so hard to come by, consumers have been loathe to buy big-ticket items like boats.
The National Marine Manufacturers Association reports sales of new boats fell 30 percent in 2008 and are expected to drop another 20 percent this year.
Genmar Holdings Inc., which shuttered its enormous Manatee County plant and laid off 225 employees last year, filed for Chapter 11 bankruptcy protection from its creditors earlier this month.
Struggling like it counterparts in the moribund economy, Donzi has been operating its Manatee County plant in a limited production mode. The company has a typical production staff these days of 15 to 20 compared with 200 when the economy was booming, Stickler said.
But Donzi has started planning to ramp up production and recall some employees, a move driven by some rising demand as supplies of Donzi boats shrink in the marketplace.
"We've established a bit of a backlog. We've been reducing our field inventory," Stickles said Wednesday. "When the market returns, customers want new boats that they can't find in the field."
Rumors have circulated that, as part of the sale, Donzi plans to eliminate most of its lines of single-engine boats, but Stickles defused that notion.
"We really haven't established that yet," he said. "Larger boats, twin and triple engine boats are where the market is heading, but that is still to be determined. None of these discussions are being made lightly. There will be no immediate shift in what we're doing."
For some time, Donzi has been more focused on its larger models, customer boats and the more "up market," Stickles said.
To appeal to the high-end buyer, Donzi has increased the average size of the boat it sells from 28 feet five years ago to 38 feet in recent years. Prices range from $50,000 to more than $500,000. The boatmaker also hyper-customizes boats, whether that means a $25,000 custom paint job or an ultra-plush interior.
"Our plan here is to continue to stay true to our brand," Stickles said.
Genmar's bankruptcy filing shows the pain in the boat-making business. The Minneapolis-based company listed assets of $237.5 million and liabilities of $216.5 million. Genmar, besides closing its plants in Florida, has cut its work force from 4,500 to about 1,500.
Brunswick Corp., the world's biggest boatmaker, also has suffered. Last month, the Lake Forest, Ill.-based company reported a 52 percent drop in marine sales for its first quarter. Brunswick said it moved to the first-quarter loss as the recession continues to keep customers at bay and erodes sales. Results also were weakened by restructuring charges and some special tax items totaling 85 cents per share.
The company, which also makes exercise and bowling equipment, lost $184.2 million, or $2.08 per share. That compares with profits of $13.3 million, or 15 cents per share, a year earlier. Sales slumped about 45 percent to $734.7 million from $1.35 billion as Brunswick's marine sales tumbled.
Private investors buy Manatee's Donzi Marine
HERALD-TRIBUNE ARCHIVE / 2000 Buy photo
Workers at the Donzi Marine plant in south Manatee County assemble boats on the shop floor. Boat manufacturers have been hit hard by the recession.
Staff Report
Published: Thursday, June 25, 2009 at 1:00 a.m.
Last Modified: Wednesday, June 24, 2009 at 7:16 p.m.
MANATEE COUNTY - Donzi Marine and its sister Pro-Line Boats have been sold by their parent American Marine Holdings to private investors.
The identity of those investors and the terms of the deal for the Manatee County boatmaker are not being disclosed.
Donzi's management team will remain in place. The investors of American Marine Holdings have sold their shares to the private investors, said Josh Stickles, Donzi's vice president of marketing.
Boat manufacturers have been pounded by the deep U.S. recession. With their net worth falling and credit so hard to come by, consumers have been loathe to buy big-ticket items like boats.
The National Marine Manufacturers Association reports sales of new boats fell 30 percent in 2008 and are expected to drop another 20 percent this year.
Genmar Holdings Inc., which shuttered its enormous Manatee County plant and laid off 225 employees last year, filed for Chapter 11 bankruptcy protection from its creditors earlier this month.
Struggling like it counterparts in the moribund economy, Donzi has been operating its Manatee County plant in a limited production mode. The company has a typical production staff these days of 15 to 20 compared with 200 when the economy was booming, Stickler said.
But Donzi has started planning to ramp up production and recall some employees, a move driven by some rising demand as supplies of Donzi boats shrink in the marketplace.
"We've established a bit of a backlog. We've been reducing our field inventory," Stickles said Wednesday. "When the market returns, customers want new boats that they can't find in the field."
Rumors have circulated that, as part of the sale, Donzi plans to eliminate most of its lines of single-engine boats, but Stickles defused that notion.
"We really haven't established that yet," he said. "Larger boats, twin and triple engine boats are where the market is heading, but that is still to be determined. None of these discussions are being made lightly. There will be no immediate shift in what we're doing."
For some time, Donzi has been more focused on its larger models, customer boats and the more "up market," Stickles said.
To appeal to the high-end buyer, Donzi has increased the average size of the boat it sells from 28 feet five years ago to 38 feet in recent years. Prices range from $50,000 to more than $500,000. The boatmaker also hyper-customizes boats, whether that means a $25,000 custom paint job or an ultra-plush interior.
"Our plan here is to continue to stay true to our brand," Stickles said.
Genmar's bankruptcy filing shows the pain in the boat-making business. The Minneapolis-based company listed assets of $237.5 million and liabilities of $216.5 million. Genmar, besides closing its plants in Florida, has cut its work force from 4,500 to about 1,500.
Brunswick Corp., the world's biggest boatmaker, also has suffered. Last month, the Lake Forest, Ill.-based company reported a 52 percent drop in marine sales for its first quarter. Brunswick said it moved to the first-quarter loss as the recession continues to keep customers at bay and erodes sales. Results also were weakened by restructuring charges and some special tax items totaling 85 cents per share.
The company, which also makes exercise and bowling equipment, lost $184.2 million, or $2.08 per share. That compares with profits of $13.3 million, or 15 cents per share, a year earlier. Sales slumped about 45 percent to $734.7 million from $1.35 billion as Brunswick's marine sales tumbled.
The person quoted in this interview doesn't work for Donzi anymore
