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ALUMINIUM Boats Australia Pty Ltd has been placed into voluntary administration, after losing its maintenance contract with the Royal Australian Navy.
A fire destroyed a multi-million dollar navy patrol boat at the shipbuilder’s Hemmant dockyard in August.
The fire started on board the boat and the insurance company is still investigating the cause.
Aluminium Boats Australia director Roy Whitewood says the voluntary administration process will help tackle the company’s financial challenges.
“It is my strong hope and desire to return the business to financial health and I will be working closely with the administrators to try and achieve this,” Whitewood says.
“I would like to take this opportunity to thank our staff who have shown enormous support to the company, particularly during the past 11 weeks as we have sought to work through a range of issues following the fire.”
The company was founded in 1999 and manufactures and maintains commercial, luxury and defence vessels across Australia.
John Park and Kelly Trenfield from FTI Consulting Group have been appointed as administrators.
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