CADILLAC — Rec Boat Holdings, the U.S. subsidiary of Groupe Beneteau, announced June 15 it will halt production at its Cadillac facility at the end of August.
The company is looking for a buyer of the facility in Cadillac and the Four Winns, Scarab Jet Boats and Glastron brands. Four Winns was founded in Cadillac in 1975 and has been a major employer for the area since.
According to a release from the company, the move comes after three years of loses during an industry downturn, fueled further by the Middle East conflict.
Cadillac’s facility has 232 employees that were informed of the decision Monday morning. The company said management will discuss severance pay, benefits and retirement with each employee.
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