Rinker Brand Closing

halifax212

@MarkB  ,the aging fleet, I consider my 2004 still relatively new and it 16 years old now. I can't afford new and the new economy may force a lot of boat owners to cut out the luxuries in an effort to manage expenses. I'm probably 1 major repair job from calling it quits myself.  Hopefully I will be back on the water in a couple months. 

mattie

YYZRC said:

For 4 months of usage a year (great lakes), if the weather cooperates, and if the kids aren't busy, and the admiral is in the mood, and if it's not broken...

Still love my boat!

Ain’t that the truth! 

Don’t forget the moon & stars have to align.

lol........the admiral.....

golfdog

Very sad news indeed. I agree with all the comments regarding the economy and the popularity of certain style boats. You won't catch me on a pontoon boat on Lake Ontario and I'm definitely not a center console guy. So for the time being I'll stick with my old fashioned cruiser and be comfortable as all heck for as long as I can afford her.
I am concerned about this forum. I was a member of the old one when we lost it. The old forum was great and I remember all the work some of the guys here put in trying to save it. Hopefully we will be able keep/save this forum because the information it contains and the knowledge of this group is invaluable.
Jerry

69fastback

I guess I better get to ordering that Bimini top sooner than later

skennelly

Ameritex will still make the canvas

aero3113

Sea Ray seems to think different. They stopped making yachts and are only focusing on 25’-40’ boats.
https://cruisingodyssey.com/2018/06/26/sea-ray-closing-high-end-cruising-boat-plants-in-florida-will-focus-on-25-to-40-foot-models/

Black_Diamond

Wow. What a downer to be stopping Rinker. The downside of corporate ownership vs private/family. 

TonyG13

Was over on the Polaris site and it looks like it's not just Rinker that they're pulling the plug on, it's also their Larson and Striper brands, all of which are made at their Syracuse, Indiana plant.

And they are blaming COVID-19: "...the sustained impact of the COVID-19 pandemic, we have decided not to move forward with investing the necessary resources to maintain and grow Rinker, Striper and Larson FX, and will discontinue production of those brands.”

Their 2018 annual report looks like boats accounted for only 5% of their portfolio and none of their profits - sales were flat. So if that was the same for 2019/2020 - and knowing post-COVID economic recovery will be long in coming they pulled the plug.

YYZRC

The economics of building a cruiser must suck - not unlike building a car in that you have to invest a ton into R&D (molds) and then try and build enough of them to cover your development costs.  With a car you have a warranty and a service/parts network (additional profits); not quite the same with a boat.

I imagine Four Winns is next; they launched a new 355 and had newer hulls for their smaller 255 and 275.  I'll be surprised if any of them exist 5 years from now.

Liberty44140

You've also got bigger and bigger companies looking for larger profits. I have no problem admitting that a Sea Ray is an excellent boat, but the prices are just never in line because parent had to make money too so all of the sudden you have a brand new 40' cruiser with a price tag scraping $1 Million and poof SR is out of cruisers and nearly out of business. If the Rinker family needed 20% GP to live, they now need to make 30+% to kick upstairs. Sure there are efficiencies with their economies of scale but saving 5% on resin and glass doesn't fill that gap. The big guys are using that savings up on labor contracts and benefits.

mattie

https://boattest.com/article/polaris-stop-building-rinker-striper-and-larson-fx-brands

Handymans342

Liberty44140 said:

You've also got bigger and bigger companies looking for larger profits. I have no problem admitting that a Sea Ray is an excellent boat, but the prices are just never in line because parent had to make money too so all of the sudden you have a brand new 40' cruiser with a price tag scraping $1 Million and poof SR is out of cruisers and nearly out of business. If the Rinker family needed 20% GP to live, they now need to make 30+% to kick upstairs. Sure there are efficiencies with their economies of scale but saving 5% on resin and glass doesn't fill that gap. The big guys are using that savings up on labor contracts and benefits.

Maybe they should start making boats in China. 

MarkB

I wonder how Cobalt is going to make out ... talk about expensive! It's a dang good looking and well-built boat though!

Ian

TonyG13 said:

Was over on the Polaris site and it looks like it's not just Rinker that they're pulling the plug on, it's also their Larson and Striper brands, all of which are made at their Syracuse, Indiana plant.

And they are blaming COVID-19: "...the sustained impact of the COVID-19 pandemic, we have decided not to move forward with investing the necessary resources to maintain and grow Rinker, Striper and Larson FX, and will discontinue production of those brands.”

Their 2018 annual report looks like boats accounted for only 5% of their portfolio and none of their profits - sales were flat. So if that was the same for 2019/2020 - and knowing post-COVID economic recovery will be long in coming they pulled the plug.

Part of the issue with Polaris is getting into stuff you know nothing about. Like AMF buying HD back then, didn't know the market, didn't invest and set the path towards failure until it was bought back by those in the know and rebuilt again.

Slapping together tubes and sheets of aluminium and fixing to a floor board and dropping an outboard on the back as a pontoon is more akin to building vehicles than building boats like ours with glass and resin encapsulated hulls with the various systems in place; even the most pimped out 'toon wouldn't have wiring and monitoring systems near what we have, maybe less than one of their higher end ATV's.

That's what you get with a drive for diversity and the opportunity to grab a company on the market that looks attractive based on cost, history and revenue projections with savings opportunities (no one buys a company and adds headcount) and perhaps some misguided market analysis. This is not a COVID-19 driven decision, it's been in the works for a while I am sure, this just told them that no one will be buying new boats in the next 2 years.

YYZRC

icoultha said:

This is not a COVID-19 driven decision, it's been in the works for a while I am sure, this just told them that no one will be buying new boats in the next 2 years.

I wonder if Rinker had any new product under development at all?  I remember those 'spy shots' of a center console from a few months ago...

earl1z19

I wonder if there was any financial incentive in the stimulus package that gave Polaris the push to do this now?

TonyG13

icoultha said:

TonyG13 said:

Was over on the Polaris site and it looks like it's not just Rinker that they're pulling the plug on, it's also their Larson and Striper brands, all of which are made at their Syracuse, Indiana plant.

And they are blaming COVID-19: "...the sustained impact of the COVID-19 pandemic, we have decided not to move forward with investing the necessary resources to maintain and grow Rinker, Striper and Larson FX, and will discontinue production of those brands.”

Their 2018 annual report looks like boats accounted for only 5% of their portfolio and none of their profits - sales were flat. So if that was the same for 2019/2020 - and knowing post-COVID economic recovery will be long in coming they pulled the plug.

"Part of the issue is getting into stuff you know nothing about."

At first I thought you were talking about me - that's usually how the Admiral starts a conversation. 

Cableguy Greg

YYZRC said:

icoultha said:

This is not a COVID-19 driven decision, it's been in the works for a while I am sure, this just told them that no one will be buying new boats in the next 2 years.

I wonder if Rinker had any new product under development at all?  I remember those 'spy shots' of a center console from a few months ago...

They were planning on coming out with a newer style enclosed cockpit cruiser. They had the concept on here and in Boating Industry magazine. 

Ian

TonyG13 said:

icoultha said:

TonyG13 said:

Was over on the Polaris site and it looks like it's not just Rinker that they're pulling the plug on, it's also their Larson and Striper brands, all of which are made at their Syracuse, Indiana plant.

And they are blaming COVID-19: "...the sustained impact of the COVID-19 pandemic, we have decided not to move forward with investing the necessary resources to maintain and grow Rinker, Striper and Larson FX, and will discontinue production of those brands.”

Their 2018 annual report looks like boats accounted for only 5% of their portfolio and none of their profits - sales were flat. So if that was the same for 2019/2020 - and knowing post-COVID economic recovery will be long in coming they pulled the plug.

"Part of the issue is getting into stuff you know nothing about."

At first I thought you were talking about me - that's usually how the Admiral starts a conversation. 

I thought I felt the earth move on it's axis as all the members here nodded at the same time....

Dream_Inn

Let me say first, I thought he was talking about you too Tony!

As for a new model, yes, I saw pics last year on a brochure of the new crossover model (38' I believe).  I was hoping to see it at Rinkervous this year.

TonyG13

Woulda, coulda, been nice...

"The 38 SuperCross represents the ­latest offering from Rinker Boats. Sporting a generous cabin headroom of 6 feet, 8 inches and housing two queen-size berths, the 38 QBX’s other amenities include a large head with separate shower."

That press release was from about March 2019. I'm guessing they didn't commit to making the molds and it's all probably still in the computer.

Handymans342

shawnmjr said:

Handymans342 said:

Liberty44140 said:

You've also got bigger and bigger companies looking for larger profits. I have no problem admitting that a Sea Ray is an excellent boat, but the prices are just never in line because parent had to make money too so all of the sudden you have a brand new 40' cruiser with a price tag scraping $1 Million and poof SR is out of cruisers and nearly out of business. If the Rinker family needed 20% GP to live, they now need to make 30+% to kick upstairs. Sure there are efficiencies with their economies of scale but saving 5% on resin and glass doesn't fill that gap. The big guys are using that savings up on labor contracts and benefits.

Maybe they should start making boats in China. 

Welcome back @Handymans342

I only did it for @raybo3. You should have seen his texts crying like a baby. Did I do something wrong?? Don’t leave the forum!! You are the only guy on here that can BS with me. On and on. Geeezzz. Pathetic 

aero3113

If they did make the molds and we’re close to production I’m sure they won’t go to waste. A lot of time and money goes into designing a new boat. Either someone will buy the Rinker line or it will go under a different name.

Ian

Dream_Inn said:

Let me say first, I thought he was talking about you too Tony!

Okay, I edited the post.

rasbury

He's back!

raybo3

Handymans342 said:

shawnmjr said:

Handymans342 said:

Liberty44140 said:

You've also got bigger and bigger companies looking for larger profits. I have no problem admitting that a Sea Ray is an excellent boat, but the prices are just never in line because parent had to make money too so all of the sudden you have a brand new 40' cruiser with a price tag scraping $1 Million and poof SR is out of cruisers and nearly out of business. If the Rinker family needed 20% GP to live, they now need to make 30+% to kick upstairs. Sure there are efficiencies with their economies of scale but saving 5% on resin and glass doesn't fill that gap. The big guys are using that savings up on labor contracts and benefits.

Maybe they should start making boats in China. 

Welcome back @Handymans342

I only did it for @raybo3. You should have seen his texts crying like a baby. Did I do something wrong?? Don’t leave the forum!! You are the only guy on here that can BS with me. On and on. Geeezzz. Pathetic 

Really Handy really? Dont flatter your self. Your 1 click away from being deleted..... bahahaha 

mvn

Pat310 said:

raybo3 Revere MAModerator Posts: 4,440 mod

October 2015

Dream Walter McCallum (spelling) was the owner of the old site. He went by the name of Talon. It was his site. I tried to reach out to him before and trust me its a long story. I would highly doubt Rinker would change anything with this site. IMO as long as Rinker is making boats we are safe. 

@raybo3 Hope you were wrong on that last sentence!

Just to make a correction for the record, the old site was owned by Russell Shand (Talon).  I remember going through the pains of changing over to this site with guys like Raybo, Dream'Inn, BabyBoomer, George and Al back in the spring of 2013 after many, many problems.

Mark

Dream_Inn

mvn said:

Pat310 said:

raybo3 Revere MAModerator Posts: 4,440 mod

October 2015

Dream Walter McCallum (spelling) was the owner of the old site. He went by the name of Talon. It was his site. I tried to reach out to him before and trust me its a long story. I would highly doubt Rinker would change anything with this site. IMO as long as Rinker is making boats we are safe. 

@raybo3 Hope you were wrong on that last sentence!

Just to make a correction for the record, the old site was owned by Russell Shand (Talon).  I remember going through the pains of changing over to this site with guys like Raybo, Dream'Inn, BabyBoomer, George and Al back in the spring of 2013 after many, many problems.

Mark

I still remember the mug shut of Russell as well.  I actually spoke to him a couple times and planned to meet up with him when I was in NC, but then I had to change my plans when I was there.

MarkB

TonyG13 said:

At first I thought you were talking about me - that's usually how the Admiral starts a conversation. 

My wife ... "Cut off the branch on that tree."
Me ... look of shock on my face ... "You're joking right?"
My wife ... "No, just get rid of it!"
Me ... more shocked ... "It's right over our cabana!"
My wife ... "So, just get a ladder and cut if off!"
Me ... "That is a 12" diameter branch, that's probably 20 ft long! Are you insane!"
My wife "Why do you always have to argue ... there's always a problem doing anything I ask."
Me ... "that branch weighs about 800 lbs, it will smash everything, and I'll probably die in the process! Please stop asking me to do crazy things!"
My wife ... "You are always so dramatic. Never do what I want to do! Fine, I'm going inside!"
Me ... "I'm working on filling the flower boxes with pebbles, like you asked! Holy Crap!"

raybo3

Dream_Inn said:

mvn said:

Pat310 said:

raybo3 Revere MAModerator Posts: 4,440 mod

October 2015

Dream Walter McCallum (spelling) was the owner of the old site. He went by the name of Talon. It was his site. I tried to reach out to him before and trust me its a long story. I would highly doubt Rinker would change anything with this site. IMO as long as Rinker is making boats we are safe. 

@raybo3 Hope you were wrong on that last sentence!

Just to make a correction for the record, the old site was owned by Russell Shand (Talon).  I remember going through the pains of changing over to this site with guys like Raybo, Dream'Inn, BabyBoomer, George and Al back in the spring of 2013 after many, many problems.

Mark

I still remember the mug shut of Russell as well.  I actually spoke to him a couple times and planned to meet up with him when I was in NC, but then I had to change my plans when I was there.

You do know that Russell Shand and Walter McCallum were the same person.