T&T: Pacific Seacraft sold

[LRZeitlin at aol.com]

The assets of Pacific Seacraft Corp., the venerable and respected maker of 
quality sailboats, have been sold to North Carolina businessman Setphen Brodie. 
The assets, including the name, molds, tooling and equipment, and unfinished 
hulls went for the knockdown price of $85,000. This is about the cost of a 
single Pacific Seacraft sailboat of a couple of years ago.

All the equipment was loaded on 21 tractor trailer trucks for a move to 
Washington, NC. Brodie intends to start the company up again and is trying to 
convince former workers to move to the east coast. The sale took place at public 
auction to pay off some of the 3.2 million dollar debt the company racked up 
over the last three years.

Brodie, a former marine archeologist, went to the auction intending to buy 
just one boat. He got carried away by the bidding and ended up buying the entire 
company. He feels that the Atlantic coast offers a better opportunity for 
boat building than the west coast. Boat sales are better, the area has plenty of 
experienced boatbuilders, and the cost of living is lower. Being built on the 
right coast, the boats should have a change in name but A&P already owned the 
name Atlantic and Pacific. For the moment the boats will still be called 
Pacific Seacraft.

Larry Z

Larry Z


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