Hi everyone
I've just bailed on FMS and since you have been so kind to share your information I thought I would respond with my analysis of FMS as well.
My Expectations:
I work in the marine industry and Sealegs has a good reputation, has started working with premium brands such as Stabicraft to put their gear on a wider range of boats. The idea of buying offshore companies and doing basically the same thing to open up a much larger market to NZ developed marine technology is a good one. I was hoping to see technology sharing between FMS brands - ie sealegs on Sillinger and Willard boats
Company's Plans:
BUILD a global brand targeted at government and commercial marine markets.
Invest heavilly in new technologies including foiling and self driving technology
Already planning a new share issue
What I found
Sillinger and Willard websites dont appear to have changed since take over. The news section on the Willard website hasn't been added to since 2016. Willlards facebook page hasn't been touched since 2017.
I can't find any Sillinger or Willard images showing amphibious technology - or really any signs of technology sharing between them
The foiling technology shown here
http://www.futuremobilitysolutions.net/research.html is by a company called Seair. They have removed all mention of Sillinger from their website (although if you google search seair +sillinger it still pops up) which would lead me to assume there is some expensive mistake being made right now.
My assumptions and analysis
Sealegs itself is probably in a really good position. It has a good reputation and so long as the economy doesn't tank it will continue to do well
The costs involved with the R & D and other overheads are going to be high.
Sharing of information between three companies (one speaking french) has probably been a large hurdle.
The company appears to have been ineffective at promoting internal technologies across its brands, and I'm guessing that any efficiencies of scale are not going to be there. (eg 3 different websites for the different brands - should have one template running all three)
Anyway, that's my thinking. I hope I'm wrong and Sillinger and Willard have big government contracts about to be released. But I'm out.
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