American Waterways suspends operations

MONTICELLO, Ky. – After just three years in business, houseboat builder American Waterways stopped producing boats at its Monticello facility on May 1, the Commonwealth Journal reported in an article earlier this week.

Steve Lochmueller, CEO of American Waterways Houseboats, told the newspaper that the company was ceasing operations because of tough market conditions and expressed hope it would reopen if the market fully recovered.

“These actions are in response to the double-digit drop in demand experienced by the U.S. marine industry over the past year in a progressively challenging sales environment that we believe is due to the slow economy,” said Lochmueller.

Laid-off employees will have access to help finding work, the newspaper added.

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