Genmar Yacht President: “It won’t be a liquidation out here”
December 15, 2009
Filed under News
PULASKI, Wis. — The president of Wisconsin-based Genmar Yacht Group told the Green Bay Press Gazette he’s confident that the business will find a buyer and remain in Pulaski, according to an article on the Press Gazette‘s Web site.
“It won’t be a liquidation out here; it will be a sale,” Bob VanGrunsven, president of Genmar Yacht Group, told the paper. “We will have a new owner. There’s value here and there are groups out there that believe there is a value they’d like to obtain.”
A $55 million bid by California-based Platinum Equity for some of Genmar’s assets does not include the Pulaski operation or several other Genmar divisions.
“It’s going to be mid-January before we get the whole thing figured out,” VanGrunsven told the paper. “It’s been a rollercoaster, but we’re getting to the end of this. In January we will be able to get our feet back on the ground, and it will take some weeks to get a restart to the operation going, but I’m confident we will do that.”
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