N.C. investor acquires Albemarle Boats
Brunswick Corp. sold Albemarle
Boats to private investor Scott
McLaughlin, of Raleigh, N.C.
“By selling Albemarle, we will pare re-dundancies in model offerings among
our other offshore boat brands and will
further reduce our North American manufacturing footprint, a key strategy moving forward,” Brunswick spokesman Dan
Kubera told Soundings Trade Only Jan. 6.
Terms of the transaction were not disclosed by either Brunswick or McLaughlin.
“It’s a brand name that I’ve had
recognition of since I was a child,”
McLaughlin told Soundings Trade Only.
“My family roots are very close to the
proximity of this [plant] location. I had
another boat manufacturing operation
that I was able to roll into this and get
some efficiencies that way.”
McLaughlin says he has been building
convertible flybridge boats in a neighboring plant. Burch Perry, Albemarle
senior vice president and general manager, says these boats will eventually tie
in to the Albemarle line.
Albemarle is based in Edenton, N.C., and
The sale reduces Brunswick’s “manufacturing footprint.”
builds offshore fishing boats in a range of
24 to 41 feet. It has 23 employees and
plans to add more if demand grows.
“We have appropriate staff for the current market conditions,” McLaughlin says.
Perry says the plant has the capacity
to build as many as 100 to 120 boats a
year, depending on the model mix.
“Our plans revolve solely around focusing on our product,” Perry says. “As part
of Brunswick we had to fit into a bigger
picture, and at this point we’re not at all
concerned about that anymore. In my
opinion, it makes us more nimble —
able to react to situations in the market.”
In addition to Albemarle, McLaughlin
also owns other real estate in the area,
including the Cypress Cove Marina in
Columbia, N.C.
“Obviously, the boat market is challenged at the moment, but it’s going to
get better,” he says. “It’s a good time to
purchase a boat [line].”
— Beth Rosenberg
NMMA wants to extend
tax allowance on losses
The National Marine Manufacturers Association is leading a 71-
member coalition urging Congress
to extend the net operating loss
carryback period to five years from
the current years.
A net operating loss is a period
when a company’s expenses exceed its profits, resulting in negative taxable income. Currently, a
company can use its NOL to offset
taxes owed on profits made in the
two previous years.
Extending the carryback period
provides companies increased
short-term liquidity as they struggle
to keep their doors open, according to the NMMA.
“Congress has used NOL carryback relief in the past to help manufacturers, retailers and companies
across all sectors,” said NMMA
president Thom Dammrich.
For information, contact NMMA
counsel Bryan Zumwalt at (202)
737-9764; bzumwalt@nmma.org.
EMISSIONS from Page 27
mandates,” he says. “Boats didn’t have
those mandates.”
Until now.
Scott, however, points out there are
differences between cars and boats
and the fuel system requirements for
each. He says one of the biggest differences is fuel systems in boats are not
pressurized.
The pressurized system in a car delivers fuel directly to the engine injectors.
This type of closed system prevents air
or fuel from escaping the tank during
operation. But these pressurized systems are prohibited on boats because if
the system were to fail, fuel would collect in the bilge and could spew out
everywhere.
Vent redesign
The fuel system on a boat includes a
vent to allow air to move in and out of
the tank during fueling and regular
boat operation. The vent also allows
for fuel expansion when temperatures
rise. The problem is fuel and air can escape through the vent.
“We have to redesign the venting system on the tank so we have 5 percent
ullage space, so the vapor has space to
expand to and won’t balloon the tank,”
says Monterrey from Florida Marine
Tanks. While the company’s aluminum
tanks must meet diurnal requirements,
they are exempt from the permeation
regulations because aluminum tanks
don’t permeate.
Another major difference between
cars and boats is that fuel tanks used in
cars are blow-molded, while the marine industry uses roto-molded tanks.
The material is different, so the interfaces are different, Scott explains.
Despite those challenges, however,
Scott says the transition should be “
relatively simple” for boatbuilders.
Monterrey agrees. “It’s not that complicated,” he says. “We’re ready for
boatbuilders to say ‘Let’s go with it.’ ”
The tank manufacturers say they already made some progress last summer and fall preparing for California
regulations that took effect last
month. The California Air Resources
Board requires that a boat with an engine that exceeds 500-hp be equipped
with enhanced evaporative emission
controls on fuel systems to limit the
escape of hydrocarbons.
Ensuring compatibility
With the new federal regulations,
tank manufacturers plan to work collaboratively with boatbuilders on fitting
these systems into their boats. This includes making sure the system is compatible with the boats, making sure the
tanks fit, and figuring out where the
canisters will be located.
Scott says the goal is to make sure its
fuel systems are in compliance, relatively easy to install, function appropriately, and are cost effective.
“I don’t think it’s going to be a huge
challenge, but people still need to be
thinking about it,” he says. “It’s difficult
for boatbuilders to just flip the switch.
We need to be a year ahead so people
can make more of a gradual transition.”
To meet the model year 2012 requirement, he says Attwood will need
to design these fuel systems and make
them compatible with boats at least a
year ahead of that deadline. Scott says
the company will have a system ready
for demonstration later this year and
available for sale by mid-2010 — in
time for model year 2011. n
BLUE POWER
Chosen for the X-Treme Everest Expedition
to power an array of research equipment,
the Victron Phoenix MultiPlus is well at
home on any yacht. The MultiPlus gives
you the power to cook,make ice,run the
stereo,and the AC all at the same time.
More powerful,less expensive with more
features including 120A Charger,Power
Assist,stackable for split phase or 3-phase
operation,93% efficient,seamless AC
transfer,and VE Net compatible. Contact
nasales@victronenergy.com.
Thomaston,Maine | 207-354-0493 | www.victronenergy.com
COME SEE US AT IBEX,BOOTH NO. 635.
