Britain's Walker Wingsail to liquidate, seek a buyer
Article Abstract:
Walker Wingsail Systems PLC, the financially troubled Plymouth, UK-based boat maker, is set to undergo liquidation of assets following the recommendation of shareholders and directors. Proceeds of the liquidation will be used to pay off a total of $2.85 million to secured creditors. According to company records, the company's assets are valued at 4 million pounds. Company-designated liquidator, however, states that the real value will be based on the amount to be paid by the firm's prospective buyer. The company is hoping to remain intact under a new owner. Meanwhile, Walker Wingsail Systems founder John Walker has formed a new company, WingTek PLC, staffed by former employees.
Comment:
Is set to undergo liquidation of assets to pay off secured creditors following recommendation of shareholders and directors
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
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Electric boatbuilder launches 62-foot racer
Article Abstract:
Duffy Electric Boat Co. of Costa Mesa, CA, has developed an electric-powered, 62-foot Voyager, which is a needle-shaped, two-person hull that is 34 inches in width at its beamiest and tapers to a pointy bow. The Voyager, which has the girth of a canoe and powered by an electric motor of 29 hp, can throttle as much as 25 knots and travel 100 miles on a single charge at 13 knots in cruising speed. The oceangoing, carbon fiber and foam boat, which is designed to handle bad weather and ocean waves, carries over 3,000 pounds of batteries.
Comment:
Has developed an electric-powered, 62-foot Voyager, which is a needle-shaped, 2-person hull that is 34 inches in width
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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