Please select your home edition
Edition
Phuket Raceweek 2016 728x90

Seawind Group Holdings released out of Voluntary Administration

by Brent Vaughan on 10 Oct 2012
New Seawind 1160 built in Vietnam that was launched on Botany Bay Seawind Catamarans
The holding company of Seawind Catamarans and Corsair Marine, Seawind Group Holdings Pty Ltd, was released out of Voluntary Administration on October 9th 2012 by the Administrators, BRI Ferrier.

As a result, the company is pleased to be back to business and fully operational.


Thanks to the support from Seawind's long established suppliers and creditors, the Administrators brokered an agreement to allow the company to move forward without any external administration and get back to building the award winning range of cruising catamarans that the company are renowned for around the world.

This course of action was recommended by BRI Ferrier after a formal assessment of Seawind's financial position.

Seawind's Managing Director, Richard Ward, comments, 'This year has been the most challenging in the 30 years I have been in business, however I have been humbled by the support of our suppliers and would like to offer my thanks to give Seawind this opportunity to move forward and focus on the next 30 years of building great multihulls.'

The net result of the administration process will see a restructure of the manufacturing operations with the closure of the Australian production facility located in Wollongong.

This is a sad outcome for Seawind after 30 years of continuous Australian production but the Directors of the company feel that there was little other option. Regrettably, high manufacturing costs and the continuing strong Australian dollar have meant the Australian built catamarans have become uncompetitive against the many imported models.

Following the completion of the last three Seawind 1250's on order, one of which has just been launched and delivered to a delighted new owner, future production of the Seawind 1250 will likely move to the Seawind / Corsair Marine facility in Vietnam, where the Seawind 1000XL2 and Seawind 1160 are already being built alongside the range of high performance Corsair trimarans and the magnificent Corsair 50ft catamaran.

Corsair Marine, originally based in California, USA, has been established for over 25 years, with the last six years of production in Vietnam.

Since moving production to the Corsair Marine factory, several boats have already been shipped to Australia and launched including Seawind 1000XL2's and Seawind 1160's, with many more on order scheduled to soon ship to Australia, the USA and Dubai.

An imported Seawind 1160 arrived by ship and launched just this week from Botany Bay's shipping terminal in Sydney.

Seawind Catamarans will continue to offer after sales service and warranty support for future and existing Seawind owners in Australia and around the world, either directly from Seawind itself or through the Multihull Central company whose headquarters are in the purpose built multihull marina of Rozelle Bay, Sydney Harbour.

This year Seawind celebrates 30 years of manufacturing catamarans and this restructure has now positioned the company to be more competitive in a global market and expand into export markets not before accessible due to the high Australian dollar and high costs of manufacturing in Australia. The company remains 100% Australian owned.

Seawind will be attending the Mandurah boat show in Perth this weekend and the 14th annual Seawind Pittwater Regatta will be on again at the end of the month. Seawind Catamarans website
Phuket Raceweek 2016 660x82Guy Nowell - Yellow 660Zhik Dinghy 660x82

Related Articles

Free $US3,000 Carbon Vang with SouthernFurl boom orders in July
Southern Spars is giving a free carbon vang - valued at US$3,000 - with SouthernFurl in-boom furlers ordered in July Southern Spars is giving away a free carbon vang - valued at US$3,000 - with all of their SouthernFurl in-boom furlers ordered in July. Carbon gas vangs make a great addition to the furling boom package, though if you’d prefer to keep your existing one, Southern Spars will offer you a 5% discount on the price of your boom instead.
Posted on 29 Jun
11th Hour Racing to present at annual Green Sports Alliance Summit
11th Hour Racing is headed to Houston, Texas, to present at the annual Green Sports Alliance Summit 11th Hour Racing is headed to Houston, Texas, to present at the annual Green Sports Alliance Summit, June 28-30, the world’s largest gathering for the sports community around sustainability, including both professional and collegiate sports teams, leagues and venues.
Posted on 25 Jun
PredictWind - Stunning new forecast maps
When developing the Offshore App, we had to rethink maps for offshore sailors. When developing the Offshore App, we had to rethink maps for offshore sailors. The mapping technology was rebuilt to be faster, have smaller downloads and be able to smoothly animate PredictWind’s advanced forecasts. Following the success of the Offshore App, we’re releasing this unique display technology across all other platforms, including the forecast website, Android and iOS Apps
Posted on 24 Jun
Extreme Sailing Series™ partners with Cisco Systems
The global technology company will provide exclusive networking solutions that will transform wireless connectivity The first venue at which members of the public, race officials and sailors will benefit from the Cisco WiFi solutions will be Cardiff – the third Act of the 2016 season – where the action gets underway on the water on 23 June. As an Official Series Supplier, Cisco will provide similar facilities at the remaining Acts of 2016.
Posted on 22 Jun
Volvo Ocean Race makes key changes to its leadership team
The re-shuffle which follows Mark Turner’s appointment as CEO, is aimed at driving innovation of sailing’s offshore race Lawrence is currently Race Director of the Extreme Sailing Series, and arrives with bags of sailing and commercial expertise, having previously managed events in all of the territories that will be visited during the 2017-18 edition.
Posted on 21 Jun
Interview with Tristan Hutt at the Zhik Avlare launch party
We spoke to Tristan Hutt of Zhik at the Avlare launch party which was held at Ocean Leisure in London on 2nd June. We spoke to Tristan Hutt of Zhik at the Avlare launch party which was held at Ocean Leisure in London on Thursday 2nd June.
Posted on 14 Jun
World Sailing invites bids for 2017 and 2018 Annual Conference
Annual Conference brings together more than 400 delegates over a seven-day period every first full week of November. World Sailing's Annual Conference brings together more than 400 delegates over a seven-day period every first full week of November. It is the central meeting point where the strategy of sailing is reviewed, discussed and celebrated.
Posted on 7 Jun
Musto returns to America’s Cup by signing up with Groupama Team France
Musto is relying on over 50 years of experience in the manufacturing of technical marine clothing. Musto is relying on over 50 years of experience in the manufacturing of technical marine clothing that has been thoroughly tested and widely approved by the most famous skippers in the world.
Posted on 27 May
Zhik New Zealand officially open Auckland store - join the team!
Zhik officially opened their store and showroom at a function at Auckland's historic Victoria Park Market on Wednesday. Zhik officially opened their New Zealand store and showroom at a function at Auckland's historic Victoria Park Market on Wednesday evening. The elegantly styled showroom is the only place in New Zealand where the full range of Zhik clothing can be viewed.
Posted on 26 May
Yacht Racing Forum announces partnership with sailing publications
The annual conference for the business of yacht racing announced that 15th media partnership agreements have been signed The leading annual conference for the business of yacht racing is pleased to announce that fifteen media partnership agreements have been signed with leading international sailing publications spanning nine countries and four continents.
Posted on 25 May