Italian yacht parts maker lays off P.E.I. staff

Italian yacht parts maker lays off P.E.I. staff

Opecmare Americas operated out of Poole's Corner
CBC News Posted: Dec 27, 2011

An Italian company that manufactures parts for luxury yachts in Poole's Corner has laid off all its P.E.I. employees except one.

Opacmare Americas set up shop in P.E.I. in 2008 with more than $3 million in funding from the Atlantic Canada Opportunities Agency and the provincial government.

Innovation Minister Allen Roach said the company — which was making teak and stainless gangways and hydraulic cranes for lifting Jet Skis — recently informed government about the layoffs.

He's not certain how many people have lost their jobs, but recent reports suggest about six people were working at the plant.

Roach said Opacmare owes the province about $2.5 million. He said the province has security on the amount through equipment in the building.

"They're paying their bills up to date, so it's up to Opacmare to decide what they want to do," said Roach.

"They're still a very solvent company in Italy, and they always have been. They've paid all their bills since they've been here. The only thing that fell down, of course, was the jobs that were promised back in 2007 when this all first started."

The downturn in the economy affected sales of the company's luxury products, said Roach.

The company had originally hoped to hire up to 100 employees.


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