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View Full Version : Nordic Tug - Out of Business


SomeSailor
08-30-2010, 05:20 PM
Nordic Tug shut down today. They haven't built a boat since march and finally pulled the plug today.

Bummer... nice boats.

They hope to re-org and fire up production again someday.

NORDIC TUGS ANNOUNCES TEMPORARY PLANT CLOSURE (http://www.nordictug.com/pdfs/Press%20Releases/NT_Plant_Closure_Release.pdf)

Burlington, Washington (August 25, 2010) –Nordic Tugs announced today it will
temporarily close its Burlington manufacturing plant on August 31. This step has been
forced by the ongoing effects of the Great Recession, and the reluctance of customers
to order new boats. While most employees will be furloughed, a skeleton staff will
remain to field customer inquiries and maintain the plant in readiness to resume
production when business dictates. (http://www.nordictug.com/pdfs/Press%20Releases/NT_Plant_Closure_Release.pdf)
The Peddler
08-30-2010, 06:12 PM
Your thread title is a little miss-leading. They're not out of business, they're just (temporarily) stopping production of new boats. The article I read from the Bellingham Herald stated that a skeleton crew of customer support will remain.
bradvo
08-30-2010, 06:37 PM
If a boat was ever way over priced, it is the Nordic Tug.
kwb
08-30-2010, 08:00 PM
+1 so many of these niche boat builders building boats of about average quality and nothing spectacular in way of design but trying to get big money for them.

Market will weed the rest of them out too before this (great reset) is all over I think.
wickus
08-30-2010, 08:05 PM
If it smells like it's out of buisiness, walks like it is out of business,......
SeaSport is in the same boat. They bought C-Dory at the worst possible time. Now all gone, except for C-Dory. I know the Wright brother family. If they knew their sweat and tears were going to go down the drain, they would never have sold to the group that bought. sad times for boat builders.
Tedster
08-30-2010, 08:06 PM
Your thread title is a little miss-leading. They're not out of business, they're just (temporarily) stopping production of new boats. The article I read from the Bellingham Herald stated that a skeleton crew of customer support will remain.

You are totally correct Peddler!
SomeSailor
08-31-2010, 04:55 AM
Your thread title is a little miss-leading. They're not out of business, they're just (temporarily) stopping production of new boats. The article I read from the Bellingham Herald stated that a skeleton crew of customer support will remain.

OK.... so 45 people who lost their jobs today are out of business... and the other 135 over the last two years (the owner stated he had upwards of 180 employees two years ago)... are "Out of Business"

They "Stopped Production" last march when the last boat was built in my opinion. A nickle says this is the last of them. It's had to sell even the nicest 32 footer with a base price of $260,4000 in today's economy, and I doubt that will get any easier.
The Peddler
08-31-2010, 06:40 AM
I guess my point was, that while they may not be building boats anymore (at this point) there should still be support for existing owners. Unfortunately not the same for owners of some other brands that went bankrupt and are now bank-owned.

The wealthy are still wealthy, Nordic could probably sell $1m boats better right now than their quarter million dollar models. The economy will recover eventually, and Nordic may build boats again.
Play N Hookie II
08-31-2010, 09:16 AM
This recession sucks!!
SomeSailor
08-31-2010, 10:23 AM
Yeah... they build a nice boat, but not really small.... and not really big... sort of in the middle.

High end small to medium boats will always be vulnerable in my opinion.
bradvo
08-31-2010, 11:33 AM
They had local competition spring up since Nordic started that also got into the market , like Ranger, American Tug and Sunnforjd also built a tug style long range cruiser. Who knows, there might be more local builders, Nordic has been around since the 70's. None of the above are economically priced except maybe Ranger but it was a sign Nordic needed to cut cost to sell boats. Ranger might come out the winner in all this.
Randygh
08-31-2010, 01:08 PM
Ranger says their 25, 29 and new 27 are trailerable. They look big to trailer, even the 25'er. Do you westsiders ever see a Ranger on a trailer heading down the freeway?
Go Aweigh2452
08-31-2010, 01:34 PM
I dislike the Ranger tugs. Seen a few of them and toured ones that were at the dock. Each one was a first boat of the owner... I think they are too narrow and too basic for my tastes... They are also underpowered for the Salish Seas... at least the ones I toured were... Not sure if they are optionally powered with bigger engines...

Now, the American Tug... Now THAT is a boat to behold... Excellent interior design and fit and finish is outstanding... I'd say it is two steps above a Nordic Tug...
3788sam
08-31-2010, 01:55 PM
Fathom is a boat we are looking at. Not quite a Tug but you can get tug like ecnomy and top end speed for less money and more boat.
They didn't have a boat at the Shilshole show but I've seen few around here and they are on Hull #17 now.
http://www.fathomyachts.com/
bradvo
08-31-2010, 02:21 PM
Fathom is a boat we are looking at. Not quite a Tug but you can get tug like ecnomy and top end speed for less money and more boat.
They didn't have a boat at the Shilshole show but I've seen few around here and they are on Hull #17 now.
http://www.fathomyachts.com/

Saw one at dock street marina in the spring time ( I believe NW yachtsales is a dealer for them ), interesting how the transom folds down . I did not spend much time checking it out but thought it was a fine looking boat , it caught my eye .
Go Aweigh2452
08-31-2010, 02:23 PM
Fathom is a boat we are looking at. Not quite a Tug but you can get tug like ecnomy and top end speed for less money and more boat.
They didn't have a boat at the Shilshole show but I've seen few around here and they are on Hull #17 now.
http://www.fathomyachts.com/

Looks similar to the American Tug... Here is a link to the 395... http://www.americantugs.com/at395.htm

http://www.americantugs.com/images/AT39/photos/Renders/AT395_00.jpg
bradvo
08-31-2010, 02:24 PM
I dislike the Ranger tugs. Seen a few of them and toured ones that were at the dock. Each one was a first boat of the owner... I think they are too narrow and too basic for my tastes... They are also underpowered for the Salish Seas... at least the ones I toured were... Not sure if they are optionally powered with bigger engines...

Now, the American Tug... Now THAT is a boat to behold... Excellent interior design and fit and finish is outstanding... I'd say it is two steps above a Nordic Tug...


Doug , you got a boat that does what ...50, what wouldn't be under powered to you....LOL
bradvo
08-31-2010, 02:26 PM
Looks similar to the American Tug... Here is a link to the 395... http://www.americantugs.com/at395.htm

http://www.americantugs.com/images/AT39/photos/Renders/AT395_00.jpg

yeah, pretty boat. I could be a fan of them boats. If you read the history of American tug you will see the Nordic tug influence.
3788sam
08-31-2010, 03:34 PM
Saw one at dock street marina in the spring time
Saw one at Elliot and a nother on Kingston guest docks. I really like the folding transom and I talked with one owner who leaves it down under way. Said never had water come back through.
Apperloo
08-31-2010, 04:56 PM
The single engine in these concern me a bit, when your halfway to alaska and you have engine trouble.............
3788sam
08-31-2010, 05:10 PM
Fathom does have twin option.
II Lucky
09-01-2010, 02:51 PM
The Fathom Yachts are on our real short list. Great boat.. 400 hp.. lots of great space.. Met with the owners a couple of years ago at the Boat show. I just hope they can hang in there. Looks to me like the ultimate NW boat. You get the luxury of a 46' Bridge boat with the economy of a 50' trawler. I hope they are still around when I can scrape up the $$$$.
pasty63
09-06-2010, 06:59 PM
I've been working on my boat in La Connor for a couple of years. In that time, I've seen Pacific Mariner consolidate out of the area and American Tug slowdown to almost no activity. It's a frustrating slowdown in that I can't really afford to buy some of the boats I've seen come up for sale at amazing prices, as I don't want to eat my current boat (a 1986 Bayliner is a hefty meal). I'm more inclined to think about downsizing in the long run. If other's are thinking the sameway - the industry hasn't seen bottom yet.

As far as Nordic Tug's pricing goes, I think they're well made and competitively priced. I'll agree that they came to the table late and high priced with the re-release of the 26, but hey - not everyone predicted how long or deep this thing would get.