Sealegs supported by its shareholders in its lawsuit against Orion
BoatIndustry reported on May 7, 2020 the injunction against amphibious boat building pioneer Sealegs by the High Court of Auckland to pay $402,000 in litigation costs to Orion and Smuggler. The court had ruled against Sealegs in August 2019 in its petition against a copy of its technologies. According to local media, the decision could jeopardize the company's future. In a letter sent to our editorial office, David McKee Wright, CEO of Sealegs wants to reassure customers and the boating industry. " We have the support of our major shareholders and the resources to meet the legal costs associated with the lawsuit we filed against Orion and its Chinese shareholder for copying our technology. "
Continued leadership in amphibious boats
Beyond the ability to cope with the legal setbacks, Sealegs' management paints a favorable picture of the company's situation. The company is posting positive results, and the year 2020/2021 is looking bright. " Sealegs achieved its best financial performance since its inception in fiscal 2019/2020 with revenues of $24 million, making Sealegs not only the pioneer of the amphibious boat, but its global leader by a wide margin. Our order book for fiscal year 2020/2021 is just as promising, despite the Covid 19 "says David McKee Wright.
The New Zealand company is continuing its technical developments and working on industrial growth. " The opening of a boat production unit in France is envisaged by the end of 2020 "says the general manager. France is not an unknown market for the Antipodean manufacturer, which has already delivered an amphibious boat, the SNS644, to the SNSM station in the Bay of Mont Saint-Michel.
