Huckins Yacht Corporation is a Florida-based company that has been a leader in the marine industry since 1928. Recently, a Prince Edward Island company caught the attention of this US operation, and now Central Marine Fibreglass of Cornwall has been awarded a contract to build the hull and superstructure components for the classic Huckins 44 Yacht.
This contract identifies Central Marine Fibreglass as the exclusive supplier for the Huckins 44 Yacht – a craft which retails for more than $500,000 US. Central Marine will be building at least one hull and superstructure each year and is getting ready to ship its second order to Florida. To accommodate the new contract, Central Marine underwent a $280,000 expansion and hired 8 new staff members.
"This lucrative contract for CMF exemplifies the how Island businesses are Canadian leaders in innovation, productivity, and export manufacturing," said Wayne Easter, Member of Parliament for Malpeque, on behalf of the Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA). "Exporting is key to economic growth in Atlantic Canada, and ACOA is pleased support Island firms in their endeavours to compete in a global marketplace."
"A key component of the provincial development strategy is helping Island businesses identify and secure opportunities in export markets," said the Honourable Mike Currie, Minister of Development and Technology. "By exporting , Central Marine is helping to inject new dollars into the economy. The provincial government was happy to support this expansion and looks forward to assisting Central Marine with securing more export contracts."
Located in the Cornwall Industrial Park, Central Marine Fibreglass primarily manufactures and modifies fibreglass fishing boats. However, this contract with Huckins Yacht Corporation is allowing the company to expand into new markets and introduce advanced technology into its production process.
As a result of this contract, the vacuum core method of fibreglass construction has been introduced to Prince Edward Island. This process produces a stronger product which is a third of the weight of conventional fishing boats constructed with the lamination process.
"All along our goal has been to break into the pleasure/recreation craft market," said Sterling Hennessey, owner and operator of Central Marine Fibreglass. "This contract will help build credibility for our workmanship and facilitate further expansion into the US market.
"A young company like ours is very appreciative of the help we received from both the federal and provincial governments. Without such support, we could not have expanded and increased our workforce."
For its expansion, Central Marine Fibreglass received a $112,000 repayable loan from ACOA through its Business Development Program. The Department of Development and Technology provided $40,000 through PEI Business Development.