The Limestone Boat Company Limited is on course to restart serial production in June 2024, having incurred an operating loss of Canadian $1,616,653 during the three months ended December 31, 2023.
Earlier in the year, the company announced the implementation of up to $5 million of financing.
The company, which owns and builds Limestone Boats, says it is continuing to advance its work streams including the restructure of its balance sheet and the previously announced financing together with restarting its manufacturing operations to Southwest New Brunswick.
The company’s employee training program which began in November 2023 is progressing, with the latest infusion techniques, equipment, and engine technologies being taught.
Work is also progressing with the retrofit of the company’s 33,000sqft manufacturing facility in St. Stephen, New Brunswick.
Exterior work and the interior demolition have been completed and the buildout and installation of equipment is expected to continue throughout the spring and summer as funding is completed.
Upgrades to existing tooling for the L200R / L200CC models, set to improve quality and production efficiencies, along with its new L290DC and L200R EV are nearing completion, and align with the summer timeline for the restart of production.
The company says that throughout the suspension of manufacturing operations, its dealer partners have remained supportive, with more than a dozen additional dealers that have expressed interest in the Limestone model line-up.
The Company is headquartered in Collingwood, Ontario.
