Etap Sinks!! - SailNet Community
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post #1 of 15 Old 01-14-2009 Thread Starter
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Etap Sinks!!

Came here just to tell you that ETAP has filled for bankrupcy, or insolvency.

The builder of unsinkable boats has sunk...what a sad news.

QUOTE:

The Belgian yacht builder, Etap has officially announced its insolvency following in the wake of its parent company Dehler's announcement before Christmas.

The ETAP 46DS was awarded "European Yacht of the Year" and won IPC Media's award for the category "Sailboat over 40 ft"

The statement reads:
'Due to the insolvency of Dehler Deutschland GmbH, ETAP Yachting - branch of Dehler Yachts Belgium BV - has applied for insolvency too. ETAP Yachting declared insolvency on the 7th of January 2009.'

The statement goes on to say that attempts to align the two brands' back office functions and production facilities were underway, as was a new look for the Etap brand.

'Etap had a new Marketing Strategy, a new Logo and Slogan (“ETAP Just Sail”) were implemented as well as a new product strategy of which the first yacht, the ETAP 30CQ [was displayed] at the Hiswa [boat show] in IJmuiden the Netherlands in September 2008. The strategy and positioning seemed to have the chance to be successful. First reactions from the market were positive.'

'Being part of the Dehler Yachts Group and being effected by the consequences of the insolvency of Dehler, ETAP Yachting did not have the chance to complete its repositioning and restructuring and benefiting from synergy effects with Dehler.

'Dehler and ETAP Yachting are two strong and established brands and the hope is strong that they will find their place under a new ownership.' END QUOTE

SEE LINK HERE

Last edited by Giulietta; 01-14-2009 at 06:24 PM.
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post #2 of 15 Old 01-14-2009
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I heard about that Monday on SA. Unfortunate but to be expected in these times.
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post #3 of 15 Old 01-14-2009
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Along with what I seem to recall a quote/article saying Dehler may come out of the BK part. Local government may in the end back the loans. They had 200 boats on order when they went into receivership because the banks wanted there loans back sooner than expected from what I read.

Marty

She drives me boat,
I drives me dinghy!
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post #4 of 15 Old 01-14-2009
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Listen...if yer gonna come here...come with GOOD news...or TIMELY news...not the news when it arrives by carrier pigeon in Portugal!!

No longer posting. Reach me by PM!
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post #5 of 15 Old 01-14-2009
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hey cam, did you hear something? I thought I heard somebody say something. Nah, must have been just a noise I didn't recognize
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post #6 of 15 Old 01-14-2009
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So does this make my 1984 Etap 26 more or less valuable? I'm glad I got all the manufacturing drawings for the parts that Etap made before this happened.
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post #7 of 15 Old 01-14-2009
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Giu,

I hadn't heard that... another one down...what a shame.

P.S. I also chuckled at your play on words.


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NEVER CALLS CRUISINGDAD BACK....CAN"T TAKE THE ACCENT
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post #8 of 15 Old 01-14-2009
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25 laid off this week from Hinckley's Trenton, ME facilty

The Bangor Daily News reported yesterday that Hinckley Yachts laid off 25 more employees from it's Trenton, ME facility after laying off 49 from the same plant last October. The slumping economy remains the reason the luxury yacht manufacturer is cutting back. The latest layoffs reduce the number of employees Hinckley has in Maine to 215.

Not a good time to be a boat builder.

Best,
ChuckA
sailing a P28-1 Heart of Gold on Narragansett Bay

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post #9 of 15 Old 01-15-2009
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Quote:
Originally Posted by ChuckA View Post
Not a good time to be a boat builder.
Heck, it's not a good time to be in the marine industry at all as far as I can see.
The past year has been the worst by far in the 13 year history of my company.
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post #10 of 15 Old 01-15-2009
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It scares me how it can feed on itself too. A buyer thinking of getting a new boat now thinks 'hmmmm, maybe I should just but a used one that actually exists'. And then the pressure on the viable builders builds. Not a pretty situation. Great as a buyer maybe in terms of bargaining power...assuming you get your boat at the end!
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