21 Nov 2012
Knight and Carver hopeful of company buyout
By William Mathieson | Other articles by this author
Knight and Carver, the San Diego-based refit and repair shipyard that filed for Chapter 11 bankruptcy in the Spring, could be close to securing the investment it requires as part of the Chapter 11 terms.
Speaking to SuperyachtNews.com Knight and Carver’s Giovanni Lococo remained tight-lipped about developments but he did acknowledge that progress had been made and that “ongoing negotiations” had allowed the yard to continue with its operations.
“We’re running a positive cash sheet and we have interested parties…we have a number of projects scheduled for the winter but none of these are superyachts at this time.”
One of the rumoured parties is New York-based ship repair company Amertech Industries. SuperyachtNews.com spoke to Amertech’s Steve Dileo, who confirmed that the company had lodged a bid:
“We’re making a bid for it but we don’t know whether we’ll be successful. There will definitely be [an outcome] before the end of the calendar year.
“We’re a shipyard operator and we’ve owned and operated shipyards down the east coast that deal with naval and commercial vessels. [Superyacht refit] is not of primary interest to us but it is of interest; we view it as 40 per cent of what the total [Knight and Carver] business is worth.”
Dileo also added that the West Coast offered an attractive new proposition for Amertech’s portfolio.
In Summer 2010 Knight and Carver acquired a 400 ton dry dock.
Knight and Carver Website
Amertech Industries Website
Add a comment
Other Business News
Confusion surrounding the correct bunkering procedures of superyachts operating in Italian waters has reached its peak. SuperyachtNews.com speaks to Ezio Vannucci, partner at Italian law firm Moores Rowland Associati, who reveals that clarification on More
Seafarers have secured a minimum wage increase following talks at the ILO last week. The new standard is a far cry from the salaries of superyacht crew, but should the announcement be used as food for thought for the industry to consider bringing crew sal More
The Isle of Man has released its latest figures on Maritime Labour Convention, 2006 (MLC) deficiency report. However, findings - or rather, lack of findings applicable to the superyacht sector - suggest that the Convention will impact the yachting sector More
Regs4ships has launched its 18th Digital Maritime Regulations product, which provides all of the documentation required to register under the Australian flag. More
Superyacht Intelligence Data
Jets Vacuum AS
Jets Vacuum has for over 25 years been the leading innovator in vacuum sanitation technology. With over 9000 Jets systems in operation on all types of ships, Jets are known for high quality, flexible cost efficient solutions backed up by first class word wide service
ASEA POWER SYSTEMS
ASEA POWER SYSTEMS is the Marine Industry Leader for Shore Power Conversion equipment ranging in power from 8kVA - 1000kVa.
Reckmann Yacht Equipment GmbH
Reckmann Yacht Equipment GmbH is a specialist company for reefing systems, masts and hydraulics and will celebrate the 120th anniversary in 2012. Today, the company is one of the leading producers and traders of headsail reefing equipment and is a synonym for quality, continuity and innovation.
Evac designs, manufactures and markets environmentally friendly vacuum toilet and wastewater treatment systems for the yacht and shipbuilding industry. With the latest advanced technical innovations we provide quality, reliability and design.