CADILLAC -- After facing seven months of bankruptcy, Four Winns in Cadillac is now facing a new future.

"We're excited, this is good news," says Four Winns president, Jeff Olson.

A U.S. bankruptcy court approved Platinum Equity out of California as the new owners of Four Winns, which was previously owned by Minneapolis based Genmar.  Now, the recreational boat manufacturer can get back on track with business.

"This gives us an opportunity to go back on the defense and go back out and start pushing the products, growing our market share and soliciting new deals," says Olson.

Olson says the new ownership is still premature, but in six months to a year more jobs could be on their way to Four Winns.

Olson says Platinum Equity is also looking to bring over a Minnesota based fiberglass manufacturer to the Four Winns plant.

"The plan is bringing Glastron from Minnesota over and obviously when that happens there will be more opportunities for the area and our company....Soon as we know what the timeline is for this, it will be be very positive news for all of Wexford County," says Olson.

Positive news during a time when Wexford County is facing one of the highest unemployment rates in the state, but Olson says once Four Winns gets back on track, its effects should have direct impacts on the local economy.

"The upturn in our industry will really transpire credit markets and start turning around also...We're blessed in a state with a lot of natural resources ideal for boating," says Olson.