(RTTNews) – Vision Marine Technologies Inc. (VMAR) said Tuesday that it has completed the relocation of its tender-rigging operations from Palm City to Nautical Ventures’ Fort Lauderdale Marina, with the move being done in May this year.
The electric marine propulsion company said the relocation has lowered operating costs, improved efficiency, and streamlined tender preparation and delivery by bringing service, rigging, logistics, and delivery operations under a single waterfront facility.
Following the move, Vision Marine Technologies said that it no longer requires its Palm City property for tender-rigging operations and plans to sell it to simplify its Florida real estate footprint.
The sale of the Palm City property is still subject to customary closing conditions, the company said in an official statement.
On the NASDAQ, VMAR ended Monday’s trading at $1.3700, down 4.9 percent. In pre-market trading, the stock was down 2.9 percent to $1.3300.
