Z Marine North America, the U.S.-based manufacturer of Zodiac boats, is stressing its status as a separate business entity as the French-based Z Marine continues its turnaround proceedings.
“Z Marine North America is a separate business and financial entity – based here in the United States – and is operated independently from French-based Z Marine,” said Z Marine North America President Gary Durnan. "We want to stress this to our North American customers, dealers, partners, vendors, media and marine industry as a whole.”
On April 2, 2015, the French Nanterre Commercial Court granted time and a receiver to the French operation to continue their turnaround proceedings that began last year. The company will continue to operate and make changes to reverse its accumulated debt and pursue restructuring procedures.
“In other words, it’s business as usual for us here at Z Marine North America and our dealers/partners,” Durnan added. “We continue to operate independently from the French-based company, just as we did before the April 2 French court decision, and our North American company remains financially sound. And any and all Z Marine North America product warranties will remain covered by Z Marine North America.”
While some Z Marine North America products are ordered from the French company, 80 to 85 percent of parts and products that are used to manufacturer Z Marine North America’s products are purchased in the United States, the company said. Z Marine North America also receives no financial support from the French-based Z Marine.
“We want to assure our customer, dealers, and the entire North American marine industry that we’ll continue to provide the utmost in products and service for all involved,” said Durnan. “We view ourselves as an important asset within the marine industry, we pride ourselves on making sound financial decisions, and we look forward to continually strengthening our relationships moving forward with all of those we work with, who represent us, and who purchase our products.”