CADILLAC -- Four Winns has been manufacturing boats in the Cadillac community for more than 30 years, but the company was forced to file for bankruptcy when the economy crashed.
“We were dealing with Chapter 11 Bankruptcy, so a company called Platinum Equity purchased our company,” said Vice President of Sales Rick Fulmer.
Platinum Equity is a California-based company. However, Four Winns will continue to operate in Cadillac.
“We are extremely happy to see Platinum Equity come in and purchase us, bring us another boat brand and job security for everybody,” said Wendy Hunt, Four Winns employee.
Governor Granholm and other State officials helped entice Platinum Equity with Tax Incentives.
Granholm said she thinks the new owner has the potential to bring thousands of jobs to the Cadillac area.
“If the demand for boats gets back up to what it was a few years ago, then the projections is about 2,300 new jobs for this area,” Granholm said.
The prospect of new jobs is very good news for the people of Cadillac.
“I got high hopes,” Hunt said.
